Kadena appears to be in the process of its final move up as part of a first wave expanding wedge, with a minimum target of around $6.65. This chart is actually very similar to the Arweave chart but earlier. There was a brief pause just before $2 to shake out the more bearish traders but I think this resistance will not hold. The expanding wedge may be the A wave of a larger correction or it may be the beginning of a new impulse beyond the previous all time high; time will tell. The retrace of the wedge should be a minimum of the 0.5 - 0.618 retrace of the final wave but can sometimes be very sharp and deep; expanding moves tend to indicate market uncertainty about the value of a project.
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Five waves played out but did not meet targets for a starting wedge; more likely the move up was the A wave of an ABC in my view; strategy would be to buy the B wave correction (playing out now; should be a higher low but could be very deep) and sell the C wave target, which is most often the 1:1 Fib extension
@MHDRihan, To be honest, I don't really think that technical analysis is that great at predicting buys and sells. It gives you an edge but I believe more in the saying that "time in the market is more important than timing the market". In other words, only buy tokens you strongly believe will still be around many years into the future and average down if it dips below your buy price. Be patient with averaging down; decide on a rule such as you buy more every time it drops 20% below your entry, for example. Then just wait. I think arbitrary sells work just as well as TA-based sells. For example, just set a sell target for 20% profit and leave it. Or 50% etc. but don't be greedy. You can make 10000%, but its better to make 10-20% consistently than gamble on a single massive gain IMO.
MHDRihan
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i want buy kda what’s the right point???
cultureofwoods
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@MHDRihan, hard to say - depends on how long you plan to hold; short-term, i'm hoping to buy between 1.391 and 1.44 but this may not happen - it could just carry on up from where the price is now (1.716 at time of writing)
MHDRihan
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okay sure .. i want hold long term still waiting for the correct passion .. again it will go down or not