$KITE Short Setup: Fading the Mainnet Hype
$KITE is currently pumping on mainnet upgrade speculation, but if you look under the hood, this chart is a ticking time bomb. Going long here is just serving yourself up as exit liquidity for the team and manipulators.
Here is the game plan to short this speculative trap:
Entry Zone: $0.265 – $0.275
Take Profit 1 (TP1): $0.220
Take Profit 2 (TP2): $0.175
Take Profit 3 (TP3): $0.115
Stop Loss (SL): $0.315
The Logic: The fundamentals simply do not support this valuation. The FDV is more than 5 times the actual market cap, creating a massive supply overhang. Worse, the team holds 20% of the supply with a cost basis of just a few cents. They are patiently waiting for retail to pump the price on "mainnet news" so they can dump their unlocked bags. Fade the hype, play the inevitable unlock dump. 📉
#KITE #KITEShort #CryptoTrading #TradeSetup #BinanceSquare
