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- The KDA coin’s daily RSI line indicates a bearish divergence
- The KDA/BTC pair was trading at 0.0003197 BTC with a gain of 17.15%
- The 24hr trading volume for the KDA coin is $204.1 Million, indicating a 7.98% hike
As mentioned in my previous article on Kadena, the KDN coin has shown an incredible rally in its technical chart, where the price has surged almost 220% from the month’s start. On November 7th, the coin price made a New All-Time High of $25.4; however, later on, the chart also showed a significantly higher price rejection in the same daily candle, indicating the presence of intense selling pressure.
Concerning the EMA’s, the KDA coin trades high above the crucial EMA’S 20, 50 100, 200, and 200, indicating a solid bullish alignment.
The RSI value (BULLISH) is 78, indicating a bullish sentiment about this coin. However, the RSI chart also projects a bearish divergence, suggesting some weakness among the coin buyers.
The KDA Coin Chart In The 4hr Time Frame
The KDA coin price is currently retesting the $22.7 mark and has started forming a new red candle at this level, validating this level as legitimate resistance. Moreover, the RSI line shows an evident bearish divergence in its chart, which could help the bears to plunge this coin back to the $15.2 mark. The current price of the KDA coin is $21.02, with an intraday gain of 15.6%
The moving average convergence/divergence indicator (BULLISH) shows both the MACD signal line and MACD line are moving above the neutral zone (0.00), indicating the bullish momentum in this coin. However, these lines have also provided a bearish crossover and sowed a considerable fall in their value.
Conclusion: From a technical perspective, the overall trend for KDA coins is strongly bullish. However, as mentioned, the technical indicators have started to project some bearish signals, suggesting the coin may encounter a minor to moderate level of retracement.
Support: $15.2
Resistance: $22.7
