The price of the Kite (KITE) token surged approximately 15.6% in 24 hours to around $0.2305, driven by significant retail trading activity from South Korea. The KITE/KRW trading pair ranked 7th in 24-hour spot volume on Upbit, one of the country's largest exchanges, accounting for an estimated 2.3% to 2.5% of the platform's total spot volume.
This rally marks a sharp reversal from the previous day's bearish trend, where KITE had dropped 17% to test the $0.20 support level. That decline followed a rejection near $0.31, with technical indicators showing strong sell-side pressure and a drop in futures market open interest.
The Kite Foundation publicly highlighted the token's performance on Upbit, attributing the volume to strong support from Korean and global communities. The broader market recovery, with Bitcoin rising about 4.66%, and KITE's association with the AI token narrative provided additional tailwinds for the price increase.
Technically, the token found support in the $0.18–$0.19 range before bouncing. Analysts note that the $0.24 level now acts as a key short-term resistance; a sustained break above it could open the path toward the previous highs near $0.30. Market indicators like Williams %R show high volatility, while a rising Open Interest RSI suggests traders are opening new positions following the bounce.
