📉 $KITE Short | The "Wick Rejection" Analysis
Execution Levels:
Entry Zone: $0.113 – $0.116 (Selling into the resistance shelf)
Stop Loss: $0.122 (Safety above the recent cluster of wicks)
Target 1: $0.105 (Immediate 4H Support / 20-EMA)
Target 2: $0.100 (Psychological "Big Figure" support)
Target 3: $0.095 (The "Golden Pocket" / Pre-summit price level)
Sentiment: Bearish Mean Reversion 📉
The technical structure indicates that buyers have reached a point of exhaustion after a 20% rally from the $0.090 base.
The Setup: On the 4-hour chart, KITE has printed multiple "Inverted Hammers" and "Shooting Stars" near $0.116. This confirms that for every attempt to break toward the all-time high ($0.138), sellers are stepping in with significant size.
The Catalyst: The Binance suspension of AVAX-C deposits/withdrawals for KITE (starting yesterday, Jan 22) has created short-term friction. While not a delisting, this reduction in cross-chain flexibility often leads to a "de-risking" phase where retail traders move to more liquid assets, adding to the downward pressure.
