KDA Technical Analysis: Struggling Sellers Lose $10 Stronghold
Kadena hopes to provide blockchain solutions for entrepreneurs and enterprises offering an environment of security that is similar to Bitcoin as well as virtually no gasoline costs, and high throughput.
Additionally, it utilizes an intelligent contract language called PACT that is said to be more accessible for people who are not experts in coding than other languages.
Let us move ahead to read about Kadena technical analysis.
Past Performance of KDA
KDA coin price breaks above the long-coming resistance trendline after a downfall of more than 75% in the last couple of months. The price action forms a double bottom pattern in the daily chart showing a growth of more than 90% from the $5 mark. Moreover, the prices challenge the sellers at $10.
KDA Technical Analysis
The KDA coin price shows long-tail candle formation after the trendline breakout and indicates strong underlying bullishness. Moreover, the trend action reflects a reversal in the underlying sentiments.
The DMI indicator shows the bullish continuation in the DI lines after the recent crossover. Moreover, the ADX line shows a growth above the 15% mark indicating a rise in trend momentum.
The RSI indicator shows a rise in the underlying bullishness as the slope sustains above the 50% mark. Moreover, the 14-day SMA line heads higher to approach the 50% mark.
The Super trend Indicator shows the start of a bullish trend as the KDA prices trend higher above the indicator’s slope. Therefore, the indicator shows a high possibility of an uptrend above the $10 mark.
Upcoming Trend
The KDA coin price shows a reversal in trend with the highly influential resistance trendline breakout with the double bottom formation. Moreover, the lower price rejection forecasts an uptrend above the $10 mark.
Beyond the 410 mark, the uptrend may find resistance near the $12 and $14 mark. However, a reversal can find support near the $7.65 and $5.75 mark.