KADENA on the verge of starting a mega rally

KDAUSD has been on fire recently and that bullish short-term trend broke above the 1D MA50 (blue trend-line) today. The last time it did so on December 27 2021, it was a fake break-out but on a long-term scale, it resembles more the bullish break-outs of August 08 2021 and January 25 2021. The CCI sequences between the three phases are very similar.

The CCI appears to have bottomed the same way it did in late 2020 and mid 2021, so there are more chances that the current 1D MA50 break is a bullish signal and not a fake-out. Technically, we should be seeing an aggressive rally soon and the modest target based on the neutral scenario of Jan - April 2021 is the Higher Highs trend-line at around 35.000. A break above the 1.5 Fibonacci extension, could target the 2.0 Fib as it happened on the October 23 break of 1.0 Fib (that almost reached the 1.5 Fib within 2 weeks).


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