Fail here and KITE retests support – Mapping the 2 paths from $0.122

Kite [KITE] has seen a quick rebound as the market adjusted following the massive Binance hack event. According to CoinMarketCap, the asset remained among the top gainers in the past 24 hours, posting a gain of around 13% at press time. Structurally, the long-term chart shows that there is a chance KITE could sustain its run, delivering a double-digit percentage return. However, there are certain barriers ahead of the price. KITE faces resistance despite a 13% rebound KITE has been on the bullish side of the market since November 1. The gain on the chart followed the asset's reaction off an ascending support line that began three days earlier, leading it to overcome a descending resistance line (dotted) that had trapped the price for weeks.

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