KITE plunges 18%, breaking $0.20 support amid heavy Futures sell-off but Spot buyers remain hopeful.

KITE's price dropped 18.2%, falling below the $0.20 support level to a low of $0.18, driven by a broad crypto market downturn and aggressive selling in Futures. Futures traders closed positions rapidly, with Open Interest down 15.4% and trading volume nearly doubling, signaling strong bearish sentiment. Meanwhile, Spot investors bought the dip, with net outflows from exchanges indicating ongoing demand, which could support a rebound if sustained. Technical indicators show strong downside momentum, suggesting KITE may fall further unless Spot demand strengthens.