KDA Technical Analysis: Can Triangle Breakout Rally Surpass $2?

Key technical points:

Past Performance of KDA

KDA coin price ends the long-coming downtrend with the bottom creation near the $4.25 mark. The reversal creates higher low and lower high formations resulting in a symmetrical triangle pattern in the daily chart. Moreover, the 50-day EMA provides a dynamic barrier as it moves along the descending trendline.

Source-Tradingview

KDA Technical Analysis 

KDA coin price action shows lower price rejection from the support trendline and challenges the $1.80 supply zone with the new bullish engulfing candlestick. Hence, traders can find a bullish breakout entry opportunity briefly. 

The crucial daily EMAs (50, 100, and 200-days) strive to achieve the bearish alignment with the 100 and 200-day EMA crossover. However, the possibility of a bullish breakout correlates to the golden crossover and reacquire the bullish alignment.

RSI Indicator: The RSI slope ends the chaotic sideways movement at the halfway line after the recent spike into the nearly overnight zone.

MACD Indicator: The MACD and signal lines regain the bullish trend, with the fast line annoying a bearish crossover. Moreover, the bullish histograms continue the uptrend reflecting the solid underlying bullishness.

In a nutshell, the KDA technical analysis projects a high possibility of a bullish triangle breakout.

Upcoming Trend 

The KDA/USD technical chart shows a symmetrical triangle pattern that may shortly provide a breakout entry opportunity. However, traders must avoid taking positions under FOMO and wait for the price action confirmation.

Support Levels: $5.75 and $5.00

Resistance Levels: $7.65 and $8.50