Скачать или смотреть KDA Technical Analysis - Post-Downfall Consolidation Teases A Bullish

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We are here yet again to enlighten you with predictions from the Crypto community!!
And today we present to you a technical analysis video on the KDA Token!

Kadena is a blockchain that is publicly designed to maximize scaling and has a brand novel smart contract language called Pact and comes with formal validation and upgrades to smart contracts.
Kadena also utilizes a brand new Proof-of-Work (PoW) system of consensus known as Chainweb made up of several individual chains working in tandem to perform transactions on the network.
The live KDA token price today is $5.48 with an intraday trading volume of $31,222,446. The coin price is up by 9.79% in the last 24 hours. With a live market cap of $917 Million, the coin has a spot reserved in the Top 100 largest coins in the world.

KDA coin price fails to sustain above the crucial support level of $9 resulting in the downfall of more than 40% in the past week. However, the downfall dilutes into a consolidation between $4.75 and $5.75. The short-term consolidation seems to be a retest of $6 fallout.
That is why traders need to avoid taking a bullish entry till range breakout.

Let’s have a deepened insight into technical analysis of kda token and see what the indicators have to say about it.

The recent bullish engulfing in the KDA coin price brings a 10% growth in the past 24 hours. However, Kadena struggles to overcome the selling pressure at $5.75 despite the presence of lower price rejection.

The falling Crucial 50 and 100-day Exponential Moving Averages in the daily chart are on the verge of giving a bearish crossover. Moreover, the recent price jump might retest the breakout of 200-day EMA.

The Stochastic RSI Indicator reflects a rise in buying pressure evident by the bullish crossover of the K and D lines. Therefore, the indicator supports the bullish breakout of $5.75.
The MACD Indicator shows the MACD and signal lines falling below the zero line with increasing distance between them. Therefore, the indicator reflects a strong bearish in action.
Therefore, the technical indicators showcase an ongoing bearish trend in Kadena with a weak possibility of a trend reversal.

In conclusion, The jump in KDA coin price might result in the breakout of the freshly formed accumulation range. However, the post-breakout rally might retest the breakout of the 200-day EMA. Therefore, the strength of breakout rally is still in question due to the boom observed in selling pressure.

The Kadena price action indicates solid resistance levels at $7.5 which coincides with the 200-day EMA, and $9. The support levels below $4.75 are at $4 and $2.75.
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