KDA price action displays a prevailing bearish trend as the resistance trendline keeps the bullish breakout attempts at bay. Key technical points: The KDA market value decreased by 7.54% today at press time. The price action shows a high likelihood of the $1.75 fallout. The 24-hour trading volume of Kadena is $21.62 Million, indicating a hike of 8.99%. Past Performance of KDA KDA prices plummeted in April, and early May as the selling pressure grew out of control resulting in a downslide of 80% from $7.6 to $1.60. And finally, we see the buyers stepping back in to showcase a V-shaped reversal that failed to surpass the resistance trendline. But, the buyers halt the bear cycle to distance from the trendline and keep a tight diagonal trend falling closer to the trendline. Source- Tradingview KDA Technical Analysis KDA prices showcase a lower price rejection in the daily candle as the rejection pressure the market value to cramp down. Therefore, the hesitance to continue the downslide projects an underlying revolt that may shortly rechallenge the resistance trendline again. The falling EMAs maintain a bearish alignment representing a solid correction phase in motion. Moreover, the 50-day EMA (red) provides resistance to the bullish recovery. The MACD and signal lines project an uptrend in motion, but the lack of buying pressure is evident in the falling trend of bullish histograms. Nonetheless, the constant bullish spread keeps t...
