Bearish Momentum: KDA price reveals a bearish trend, reversing from the resistance trendline.
Three-Black Crows Pattern: The daily chart hints at a three-black crows pattern formation, a bearish signal.
10% Price Drop: Kadena experiences a significant 10% fall in value.
Psychological Support at Risk: The $1 psychological support level is under threat due to the ongoing bearish trend.
Resistance at $1.5 Unbroken: KDA's inability to break the $1.5 resistance marks the start of the current negative cycle.
Volume Increase with Bearish Candles: Larger red candles accompanied by a surge in trading volumes signal strong selling pressure.
Critical Support Levels Approaching: The coin approaches significant support levels, including the 50-day EMA and Fibonacci levels.
MACD Indicator’s Bearish Signal: The MACD lines fail to cross bullish, indicating continued bearish momentum.
50-Day EMA as Potential Support: The rising 50D EMA may provide dynamic support and a bounce-back opportunity.
Multiple Reversal Spots: Presence of various potential reversal points might exhaust the bearish trend before hitting the bottom.
Potential Drop to $0.85: If key support levels fail, Kadena might test the rising support trendline around $0.85.
Long-term Outlook Remains Bullish: Despite the current bearish phase, long-term projections for KDA remain optimistic.
Three-Black Crows Pattern: The daily chart hints at a three-black crows pattern formation, a bearish signal.
10% Price Drop: Kadena experiences a significant 10% fall in value.
Psychological Support at Risk: The $1 psychological support level is under threat due to the ongoing bearish trend.
Resistance at $1.5 Unbroken: KDA's inability to break the $1.5 resistance marks the start of the current negative cycle.
Volume Increase with Bearish Candles: Larger red candles accompanied by a surge in trading volumes signal strong selling pressure.
Critical Support Levels Approaching: The coin approaches significant support levels, including the 50-day EMA and Fibonacci levels.
MACD Indicator’s Bearish Signal: The MACD lines fail to cross bullish, indicating continued bearish momentum.
50-Day EMA as Potential Support: The rising 50D EMA may provide dynamic support and a bounce-back opportunity.
Multiple Reversal Spots: Presence of various potential reversal points might exhaust the bearish trend before hitting the bottom.
Potential Drop to $0.85: If key support levels fail, Kadena might test the rising support trendline around $0.85.
Long-term Outlook Remains Bullish: Despite the current bearish phase, long-term projections for KDA remain optimistic.