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KITE drops 17% as sellers dominate – Can $0.20 hold or is THIS next?

KITE declined 17% to a low of $0.20, amid intense bearish pressure across the market.

Kite [KITE] faced sharp bearish pressure after rejection near $0.31 four days ago. The token slid to $0.20, breaking below short-term moving averages.

At press time, KITE traded at $0.2018, down 7.78% on the daily chart. Weekly losses extended to roughly 11%. Spot and derivatives data showed traders positioned for further downside.

KITE weakens as momentum turns bearish

After touching $0.30, KITE saw aggressive profit-taking for two consecutive sessions. Sellers overwhelmed buyers as broader market sentiment weakened.

Geopolitical tensions added to the risk-off tone as February closed. That shift set up renewed downside pressure across altcoins.

kite seller pressure to price
Source: TradingView

On the 1D chart, the price broke below the ascending channel support. This breakdown confirmed short-term structural damage.

At press time, the Buyer-Seller Strength indicator showed -39 and -43 readings on its components. That indicated dominant sell-side pressure.

Seller’s Strength stood at 80.77, while Buyer’s Strength dropped to 19.22. This imbalance reinforced bearish control.

Investors reduce exposure, risk appetite plummets

Even so, the futures market offered additional confirmation.

Open Interest fell 17.26% to $55.47 million, while Volume rose 33.91% to $178.42 million. That divergence typically indicated positions closing amid heavy trading activity.

At press time, Long/Short Ratio stood at 0.8501. On Binance, the Long/Short Ratio was 0.4601.

KITE derivatives data analysis
Source: CoinGlass

Binance Top Trader Long/Short printed 0.4443. Meanwhile, Top Trader Long/Short (Positions) showed 1.6191.

That split suggested retail accounts leaned short, while larger positions remained comparatively balanced.

Is $0.2 support at risk?

KITE experienced strong downside momentum as sellers dominated both spot and futures markets. For that reason, the altcoin’s Relative Strength Index (RSI) fell below 50, dropping to a low of 47.

With the RSI settling in the bearish zone, it indicated a strong selling pressure. Likewise, the altcoin fell below EMA20 at $0.22, validating this bearish move.

KITE EMA & RSI
Source: TradingView

Momentum indicators are both showing weakness, signaling a potential continuation of the trend. The continuity of the prevailing trend could see KITE lose $0.2 support and drop to $0.18, where EMA50 sits.

For a trend reversal, KITE needs to hold $0.2 and flip the $0.22 resistance level; failure to do so will keep the bearish trend going.


Final Summary

  • KITE fell to $0.2018 after rejection near $0.31, extending weekly losses to roughly 11%.
  • Buyer-Seller Strength printed -39 and -43, confirming strong sell-side pressure.
Disclaimer: AMBCrypto's content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.

Gladys Makena

Journalist

Gladys Makena is a Cryptocurrency and Financial Analyst at AMBCrypto with four years of market analysis experience. Her quantitative expertise is supported by a strong background in Finance, providing a solid foundation for a data-driven approach. At AMBCrypto, Gladys is committed to providing the community with timely and insightful news, reports and technical analysis.

AMBCrypto was founded in 2018 with a mission to simplify and bring the latest blockchain and cryptocurrency news to our readers. We have quickly grown into the digital news source for an emerging generation of cryptocurrency enthusiasts, reaching more than a million readers on a monthly basis, across the globe.