We witnessed a violent shock in the InfoFi sector over the past few hours, with the hero being the KAITO currency, which has sharply declined to currently trade around $0.48.
🔍 What happened behind the scenes?
Platform X (Twitter) has updated its developer policies and banned applications that offer financial rewards for posting. This decision struck the 'profit model' of the Kaito project (Yaps system) hard, resulting in:
1️⃣ Panic Selling wave led to a price drop of more than 20%.
2️⃣ A sharp decline in the value of the project's NFTs by 50%.
📊 Technical analysis and current situation:
Critical support point: the price is currently testing a very strong support area at $0.47 - $0.48. Historically, this area has been a rebound point, but breaking it with a 4-hour candle close may open the door to levels of $0.42.
RSI Indicator: We notice the indicator reaching the "oversold" area, which may suggest a technical rebound (Correction) to test levels of $0.54 as the first resistance.
💡 The team's rescue plan:
The project founder announced the transition to Kaito Studio, trying to shift the project from a "simple rewards system" to an "integrated marketing platform." The question now is: Will the market accept this shift? Or was the strength of the currency only linked to the banned rewards system?
⚠️ Advice for traders:
The currency is currently under strong "negative news" pressure. It is advisable not to enter "buy" (Long) unless the price stabilizes above levels of $0.55 or clear rebound signals appear from the current support. Also, one should be very cautious of high leverage in these circumstances.
Share your opinions with us.. Do you think $KAITO is capable of returning again or has the "share to win" era ended? 👇
#Binance #KAITO #CryptoAnalysis #icrypto #MarketRebound $KAITO
