- Price action of Kadena coin suggests no trading area under symmetrical triangle pattern.
- Trading volume is gradually decreasing, so the volume is down by 42% compared to last night’s figures.
- KDA/BTC pair price is down 0.5% with presence of 0.00008781 satoshis
Kadena Coin had a remarkable gain of over 8656 percent by the end of 2021. Since 11 November, the price of KDA coin has steadily declined, hitting a low of $1.37 on 12 May 2022, the lowest price recorded for KDA coin in 2022.
During the downtrend, the altcoin is looking below the downtrend line. On the other hand, over the past two weeks, the bulls are taking support at the uptrend line. Thus, the price action stays inside the symmetrical triangle pattern.
At the time of writing the KDA seems to be sideways at the $2.64 mark. Thus according to CMC the market cap is present at $481 billion in the last 24 hours with an increase of 1.6%. Moreover, the KDA/BTC pair price is down 0.5% with the presence of 0.00008781 satoshis.
Traders this week witnessed fewer liquidations than the previous week. Meanwhile, trading volume has declined by 40% in the last 24 hours.
RSI seems flat below the semi-line
The key support level for the KDA token is $1.3, while the resistance level is $3.5 on the other hand. Similarly, the 20-day exponential moving average was a bullish barrier in the context of the daily price chart as well as the 50 EMA was above the KDA coin’s current price.
Amidst a sideways trend, the RSI looks flat below the semi-line (50 mark) on the daily price graph. Above the 50 mark, buyers can see a more higher outlook.
Conversely, the ADX started to move down, which is a clear indicator of weak momentum for the KDA crypto.
Conclusion
As long as Kadena price stays below the downward sloping trend line of the symmetrical triangle pattern, the bulls will continue to watch a sideways trend. The altcoin can most likely reverse this pattern.
Support level – $1.4 and $1.0
Resistance level – $3.5 and $10
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.