KITE/USDT: Testing MA60 Resistance After Gains of +8% 🪁📈
KITE is trading at $0.1165, up +8.78% today, indicating positive momentum. The price is testing the 60-period moving average ($0.1160), which is now acting as immediate resistance. The daily range is tight, with resistance at $0.1170 and support at $0.1066, suggesting a potential breakout or rejection near current levels.
Trading Idea (Testing Resistance and Playing the Breakout):
Scenario 1 (Buy on Break of MA60):
Entry Zone: $0.1165 – $0.1175 (upon confirmed break above MA60)
Stop Loss (SL): Below $0.1150 (loss of breakout level)
Take Profit Targets (TP):
TP1: $0.1200 (initial target)
TP2: $0.1225 (next resistance)
Scenario 2 (Sell on Rejection of MA60):
Entry Condition: Rejection at MA60 and drop below $0.1155
Stop Loss (SL): Above $0.1175
Take Profit (TP): $0.1120 → $0.1100
$KITE $DASH Trading volume is notable at $21.19 million. With the price trading at the upper end of its daily range and testing MA60, the next few candles may determine the short-term direction.
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