X

Kadena Price Analysis: The KDA Coin Rallying at Full Throttle

  • The KDA coin’s daily RSI line has reached the overbought zone
  • The KDA/BTC pair was trading at 0.0002739 BTC with a gain of 38.79%
  • The 24hr trading volume for the KDA coin is $192.2 Million, indicating a 223.2% hike

Source- KDA/USD on Tradingview

October has been one of the greatest times for all the KDA investors, where the coin initiated a remarkable rally in its price. Calculating from the 1st October, the coin has indicated an 1165% growth and has marked $18.38 level as the new All-TIme High for KDA coin

The EMA’s show that the KDA coin trades above all the important EMA’S 20, 50 100, 200, and 200, indicating a bullish trend alignment. 

The RSI value (BULLISH) is 88, indicating a bullish sentiment about this coin as the RSI line has shown significant growth, supporting the ongoing rally. However, it also suggests the coin has reached an overbought level.

The 9 EMA Act As Dynamic Support For KDA In The 4hr Time Frame Chart

Source- KDA/USD on Tradingview

The KDA coin rally has currently stopped at the $18.38 level and indicates a minute pullback in its technical chart. Furthermore, it seems the 9 EMA is providing dynamic support to the KDA coin and can also offer an early signal if its price starts giving a bearish reversal. 

As per the daily traditional pivot levels, the nearest resistance for the KDA price is $20, followed by $24. And for the opposite side, the nearest support the crypto traders can expect is $16.2, followed by $12.3.

The moving average convergence/divergence indicator (BULLISH) shows both the MACD signal line and signal line move higher than the neutral zone (0.00), indicating the bullish sentiment in the KDA coin.

Conclusion:  From the technical perspective, the KDA coin shows a strong uptrend in the chart with no signs of proper reversal yet. Hence, the trend traders looking for long opportunities in the Cryptomarket can consider trading in KDA coins. 

Support: $0.132

Resistance: $18.38

Categories: News
Antonio K Smith: Antonio is a travel photographer by profession and came across the Crypto world during his profession. Since then his love, knowledge and interest towards the technology have increased. He brings his passion to create in his articles.