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- 1 The KDA price is currently trading at $0.77 near the demand zone.
- 2 The KDA price has been observing a decrease of 2.41% in the last 24 hours.
The KDA price is currently observing a significant increase in the seller’s presence. At present the price is trading near its last line of defense below key EMA and SMA levels providing critical resistance to the price. After making consistent efforts to cross above the 100 EMA over the past few weeks the buyers are yet to be able to attain their target. The price has been trading under a major bear trend for an extended period of time.
Despite that, it is presently moving near key support which may prove to be a deciding factor for it.
The present value of Kadana is 0.799$, It has a total Market Cap of $180.16M
Increase in Social Engagement levels and Spam Volume
The investor’s sentiments regarding the Kadena token are presently seeing a Bearish Surge. The Total bullish sentiment metrics provided by LunarCrush have declined by 26.8% within the last week. The Total Social engagement metrics indicate that the community is getting active regarding the token. It is observing a rise of 77%.
Though the Spam volume of KDA has also increased by 118.6% which presents a foreboding outlook. The LunarCrush analyses the tweets and media activity that are spam through a machine learning algorithm.
A Surge in TVL of KDA Token
The TVL (Total Value Locked) has been seeing a sharp decline in its value after attaining its all-time high near 10M USD. The decline in TVL value represents the lack of buyers’ confidence. The present TVL of SIA is $1,588M, it is observing a change of -0.14% within the last 24 hours.
Technical Analysis ( 1 Day Timeframe )
The RSI line has been moving in a downtrend. The present RSI value is 33.41 and the value of 14 SMA is 32.44 points. The RSI line at present is suggesting that it may change its direction on the side of the bulls as the value is near oversold levels and it is giving a positive interception to 14 SMA.
Conclusion
As per the analysis, If the price gains buyers’ support from this level, it has a chance of making a nifty recovery within a relatively short period of time. The Oscillators are taking a reversal from the oversold levels which suggests that the KDA token is currently undervalued.
Technical levels –
Support – $60.00
Resistance – $80.00and $70.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
