Market Overview for Kite/USDC: Bullish Breakout Amid Rising Volatility

Summary
• KITE/USDC rose from $0.0692 to $0.0848, closing at $0.0781 with strong volume expansion.
• Momentum turned bullish post $0.0750 support, confirming a breakout with diverging price and volume.
• RSI approached overbought levels, suggesting potential near-term volatility or reversal risk.

Kite/USDC opened at $0.0692 on 2025-11-08 12:00 ET and surged to an intra-24-hour high of $0.0848, closing at $0.0781 by 2025-11-09 12:00 ET. Total volume reached 3099541.2 with notional turnover at approximately $244.5 million, reflecting increased market activity and directional bias.

The price moved above a key $0.0750 support and formed a bullish breakout pattern. A strong 15-minute RSI reached near overbought territory, while MACD showed a positive crossover and rising histogram, reinforcing the bullish bias. Notably, Bollinger Bands expanded, indicating increasing volatility and positioning price near the upper band, suggesting a continuation phase is possible.

Moving averages on the 15-minute chart showed price above 20/50 SMA, while daily charts suggest price is above all major MAs, confirming a strong trend. Volume spikes occurred during the final hours of the session, especially between 05:15–05:30 ET, when KITE/USDC surged from $0.0757 to $0.0848, indicating strong accumulation or speculative buying.

Fibonacci retracement levels were active during the upward swing. The 61.8% retracement level at $0.0781 was tested and held as support, now functioning as a dynamic pivot. This level could continue to anchor short-term direction.

Backtest Hypothesis
To generate the required RSI (14) and MACD (12, 26, 9) series for KITE/USDC, accurate data for the symbol “KITEUSDC” is essential. The data retrieval failed due to an unrecognized asset identifier. To proceed, the correct exchange-specific symbol (e.g., “KITEUSDC.BINANCE”) or a CSV/JSON file containing historical close prices is needed. Once data is confirmed, we will backtest a 1-day short strategy based on overbought RSI (>70) and MACD divergence, with performance metrics and visualizations generated.