KADENA ( KDA ) PRICE ANALYSIS :- PRICE READY FOR A MUCH NEEDED BREAKOUT

• KADENA DECLINED BY MORE THAN 95% FROM HIGHS TILL NOW AND AND 66.86 % IN 1 YEAR.
• KADENA PRICE IS TRADING BELOW 100 AND 200 EMAs INDICATES THAT THE PRICE IS BEARISH.
• KADENA IS TRADING NEAR ITS 52 WEEK LOW AND GAINED MORE THAN 18.15 % IN A WEEK.

MARKET CAPITAL OF KADENA ( KDA ) – $ 130. 477 M

CURRENT MARKET PRICE OF KADENA – $ 0.525 

Kadena ( KDA ) is down by over 95 % from highs which states that the kadena is in  super bearish trend and gave a negative 66% return in a year which supports the above statement.

Although on a short term the stock rallied 18.51 % in a week which indicates that the stock is gaining the momentum from bottom levels and now buyers are trying to push the price up in a short time.

If we observe the volumes there is some buying visible at bottom levels near to the price i.e $ 0.446 which means that there are some buyers who are restricting the fall and pushing the price up and expecting the price to sustain on above levels .

The 50 , 100 and 200 EMA is sloping downward and is currently placed above the price and the price is stuck and facing rejection between 50 and 100 EMA which means the trend is bearish but the buyers are trying to capture the base .

Kadena is trading at the bottom of its 52 week range of $ 1.76 and $ 0.41 which means the sellers dominated the price till now although the buyers tried their best at different levels to take the control but failed.

50 and 100 EMAs are providing a strong resistance from the prince and the price is facing a good rejection from there, and the support is good enough to hold the price above.

The support zone is present near the price  $  0. 415 and apart from EMAs the supply zone is present near the levels $ 0.745 and $ 0.803. 

200 EMA which is used by many traders to decide the trend meet head on with the supply zone which can be a challenging hurdle to cross for the buyers, as the price faced a rejection alone from the supply zone but now it will be supported by 200 EMA indicator and if it crosses that level, the  structure can turn positive .

IS KADENA FORMING A BASE ?

As the upward sloping trendline is supporting the price and pushing the price upward it will play an important role to break the resistance levels i.e near to the levels $ 0.566 and $ 0.571.

RSI is just near to the level 50 and is looking good and it seems like the price is forming a higher high and high low pattern which is a positive sign. So once the price is able to cross and sustain above the resistance levels as mentioned in the chart above there is a high possibility that price can provide some excellent gains to the investors .

TECHNICAL LEVELS TO WATCH  :-

RESISTANCE –   $ 0. 569

SUPPORT –   $ 0.4398

DISCLAIMER-

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.