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- KADENA Price Prediction highlights the bearish price action for KDA which cannot stop from making new lows
- KDA Crypto reported a loss of 60.49% in one year
KADENA Price Prediction gives a closer look at the strong downtrend of KDA which led the prices to unexplored depths. KDA Coin is trading at $0.604. The Market is down 2.24% in the last 24H.The 24H Volume witnessed a fall of 14.67%. The overall market cap of KDA Token is $145,380,424.
KADENA Price Prediction: Strong downtrend with a new low.
The daily chart unveils the prevailing bearish sentiments for KDA Crypto. Market has been suffering from falling prices since the inception of the token on the exchange. KDA token lost 95% of its total value from the all-time high of $14. The market is consumed by fear as the prices explore new depths.
KADENA Price Predictions unwinds the diminishing strength of the market as it loses value. KDA Price had a good start to the year where it managed to surge 60% to the resistance of $1.40. It began showing weakness in February as the prices couldn’t breach the resistance and have fallen down 57% since.
Buyers finally decided to show up : Technical Indications.
A closer look at the 4H chart delivers the insights of KDA where the price bounced 25% and succeeded to break the resistance of $0.584. The Bulls are fighting to defend the newly formed support and are looking forward to conquering the next hurdle at $0.730. Bears are preventing the prices to flip the 200 EMA.
Technical indicators are suggesting lack of momentum where the prices may move sideways in the short-term. Volume bars are suggesting that market participation is increasing slowly and buyers are showing up. If the recovery continues, prices may have a chance of reaching $1.40
RSI: The RSI indicator is currently at 45.11 on the 4H. It represents weakness and market may consolidate in short-term
MACD: The MACD made a bullish crossover. The Histogram highlights the loss of momentum of the sellers. The indicator is still below the 0 lines. It represents sideways conditions
200 EMA: As observed, on the 4hr, the price is trading below the 200 EMA(exponential moving average) which acts as a significant resistance. This is a clear indication of a downtrend where the sellers are in control and for a trend reversal, the price must break and trade above the 200 EMA.
Conclusion:
KADENA Price Prediction gives a closer look at the strong downtrend of KDA which led the prices to unexplored depths. Market is in fear and some investors are looking to capitalize on this situation. A recent bounce is suggesting that buyers are getting attracted to the discounted prices and immense upside potential. The overall performance of KDA is not great so far. Investors are advised to stay cautious.
Technical levels
Support Levels: $0.584- Support 1
$0.586 Support 2
Current Price: $0.604
Resistance Levels: $0.730 – Resistance 1
$0.878 – Resistance 2
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.
