KDA Technical Analysis: Another Lower High Peak Or Trend Reversal?
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Let us move ahead to read about KDA technical analysis.
Past Performance of KDA
The KDA coin price shows a growth of more than 30% after making multiple lower price rejection candles in the past week. The price jump breaks above the horizontal level at $6 resulting in a bullish candle of 7% jump in the past 24 hours. However, the relatively weaker trend momentum to the previous downfall threatens a bearish continuation.
KDA Technical Analysis
The KDA coin price shows the possibility of a fresh lower high formation with the recent bullish retracement. Moreover, the lack of bullish commitment is evident by the 20% jump in the intraday trading volume.
The crucial Exponential Moving averages show a bearish crossover of the 50 and 100-day averages as the price broke below the 200-day EMA. Moreover, the recent price jump can be the retest of the 200-day EMA.
The DMI Indicator shows a drastic fall in the trend momentum as the ADX line touches the 15% mark. However, the fall in -DI with the rising +DI increases the possibility of the bullish crossover.
The MACD Indicator shows a rapid reversal in the MACD line as it gives a bullish crossover with the signal line. Furthermore, the lines show a bullish divergence in action between the last two dips.
Therefore, the increased chances of a bullish continuation in the KDA coin price will need to surpass the selling pressure at 200-day EMA.
Upcoming Trend
The KDA technical analysis shows the coin price jump resulting in the consolidation range and the psychological level of $6 breakout. However, the reversal from the 200-day EMA remains a threat that can undermine the bullish reversal.
Therefore, buyers at the current prices can target the 200-day EMA at $7.6. However, in case the sellers take over, a new lower low formation near $4 is possible.
At press time, TradingView gives a "SELL" signal for the KDA coin.
