The Kadena coin price has been trading into the symmetrical triangle pattern for the past several days. The daily price chart of Kadena is above the 20-day moving average.The Kadena coin price with the Bitcoin pair price is slightly bearish by 1.14% at 0.0001648 Satoshis.
Kadena Coin saw an excellent bullish rally at the end of 2021, around 8656%. Then the price of the KDA coin continued to decline since November 11, resulting in the KDA coin being noted for the year 2022 at the lowest level of $4.382. For the past several days, the KDA crypto has reflected the lower-highs and higher-lows in terms of the daily price chart, suggesting the symmetrical triangle pattern.
The Kadena coin price is trading above the 20-day moving average (blue), which supports investors. At the time of writing, the KDA coin price is trading at $7.249, which seems to be bearish by 3.27%. However, the coin lost around 12% trading volume over the past 24-hours.
During the 20-MA breakout, the daily trading volume bar reflected a highly volatile market. Furthermore, the volume to market capitalization ratio is 0.04523.
The Kadena coin price with the Bitcoin pair price is slightly bearish by 1.14% at 0.0001648 Satoshis. And the KDA/BTC pair is slightly bullish by 0.6% at 0.002518 ETH. Nevertheless, the coin has immediate support at $4.50, and the resistance sits at $16.50. But for the current scenario, the coin’s price will have to break out of the triangle pattern for confirmation.
The Kadena coin price is still trading above the EMA Ribbon indicator. But it seems that bears are attempting to breach the daily price below the Red lines as well as the 200-day moving average (yellow line).
Stoch RSI is holding higher in the overbought zone with reference to the daily price chart, where K is at 88-point and D is at 91-point. On the other hand, Stoch RSI formed a bearish crossover today. It remains to be seen whether the bears break out of the triangle pattern with the help of the Stoch RSI sign.
The Kadena coin price trend is creating a little confusion for the traders. There will be two conditions; if the price breaks the symmetrical triangle pattern on the upside, we can see fresh all-time highs; On the other hand, if the bulls fail to maintain the price above the chart pattern, the bears
Support level – $4.5 and $2.5
Resistance level – $10 and $16.5
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.