Kite AI Update: The Bulls Are Back & The Price Discovery Phase

The early March peak, the all-time high, saw a standard correction (a retrace) develop lasting one month, until early April. Prices moved below 0.618 Fib retracement and support was found right above 0.786. The retrace saw the classic slow recovery before the bulls re-entered the game.

KITEUSDT moved yesterday back above the 0.618 Fib retracement level and this fully confirms the bulls are in. Yesterday resistance broke, today we see a full green candle. Tomorrow, and the weeks to come, we can expect strong bullish action. We can see this after a classic retrace and higher low.

There is plenty of room for growth on this project and trading pair. The chart is showing some targets but there is no limit as to how far KITE can grow.

After the standard advance, the market will enter a price discovery phase. With a bull market now in progress, this can mean a new all-time high being hit week after week, day after day. If the bull market lasts two years, then you can imagine.

The targets on the chart can be achieved relatively fast though, it should not happen beyond three months. 1-3 months should be enough. At first the market grows slowly but when hype and FOMO increase, everything gets out of control and we get a type of bull run phase.

Namaste.