๐จ $KITE Drifting Sideways, But Bearish Pressure Is Building โ Stay Careful
๐ Volume Tells a Story of Indecision
The latest daily candle barely registered any activity, printing just ~71K in volume โ a massive drop compared to earlier explosive sessions, including that extreme 9.5B liquidation day. This kind of volume collapse signals hesitation and exhaustion. Momentum has stalled, and without conviction, price becomes vulnerable. Historically, prolonged low-volume phases like this tend to resolve to the downside rather than spark sustainable rallies.
๐ธ Flow Data: Larger Trend Weakens, Short-Term Noise Persists
Looking at higher timeframes, the picture is clearly bearish. Contract flows show consistent capital exit:
-487K in the last 24 hours
-1.92M over 3 days
-1.56M on the weekly Spot flows are also negative at -207K, reinforcing broader distribution and bearish dominance.
On the lower timeframes, there are small inflows across 5m, 15m, and 30m charts on both sides. However, these look more like temporary relief or positioning for a short-lived bounce rather than genuine accumulation. At best, this sets the stage for a possible fakeout before continuation lower.
๐ Trade Bias: Cautious Bearish โ Patience Required
Breakdown Setup:
Wait for a confirmed break below the support zone at 0.08111, or at minimum, a loss of the daily low at 0.08382. Volume confirmation is critical here โ avoid entering on weak or unconvincing moves.
Rejection Setup (Safer Option):
Alternatively, look for price rejection near resistance at 0.09421 or the upper Bollinger Band, which presents a clearer short opportunity if momentum fades.
๐ Stop Loss:
Place stops slightly above the recent swing high around 0.09450. This provides roughly a 7.5% buffer from breakdown entries, aligned with the current low ATR (0.01187) to reduce whipsaw risk.
๐ฏ Targets:
First downside objective sits near 0.07423, offering a 10%+ move from breakdown levels โ a favorable risk-to-reward if the setup triggers cleanly.$KITE
