Kadena
Aggiornato
The past month has been bullish for KDA, netting a near +200% move Month to Date; and well over +1000% since the beginning of August.
Currently showing signs of slowing down (daily pinbars at resistance // wicks) from a 1D view as price has made a weekly retrace of 50% and an extension to -615%.
Usually this is a pattern completion and from here price either returns to the -27% or 0% zones to find support to continue the move or consolidate for a bit and form a new accumulation pattern.
Worth mentioning is that price had been respecting an upper resistance trend line which was broke, and is now forming on the 4H higher lows and equal highs (ascending triangle) which is a bullish pattern. While this does suggest trend continuation, it would be best to enter after confirmation - rather than entering at such a vulnerable zone where the R:R is against you.
Other technical aspects to keep in mind include KDA/BTC and its strength and also the fact that the elephant in the room..the wick from the KuCoin open, does it suggest where price can eventually reach again? Who knows.
Fundamentally I got no clue what KDA does exactly and I've went over the team and it includes people with successful backgrounds ranging from The SEC Crypto Committee to the most cited person on the Bitcoin white paper.
Id take it with a grain of salt because damn near every project has people that have been previously successful - which doesnt correlate to their current venture resulting in the same..dyor.
Currently showing signs of slowing down (daily pinbars at resistance // wicks) from a 1D view as price has made a weekly retrace of 50% and an extension to -615%.
Usually this is a pattern completion and from here price either returns to the -27% or 0% zones to find support to continue the move or consolidate for a bit and form a new accumulation pattern.
Worth mentioning is that price had been respecting an upper resistance trend line which was broke, and is now forming on the 4H higher lows and equal highs (ascending triangle) which is a bullish pattern. While this does suggest trend continuation, it would be best to enter after confirmation - rather than entering at such a vulnerable zone where the R:R is against you.
Other technical aspects to keep in mind include KDA/BTC and its strength and also the fact that the elephant in the room..the wick from the KuCoin open, does it suggest where price can eventually reach again? Who knows.
Fundamentally I got no clue what KDA does exactly and I've went over the team and it includes people with successful backgrounds ranging from The SEC Crypto Committee to the most cited person on the Bitcoin white paper.
Id take it with a grain of salt because damn near every project has people that have been previously successful - which doesnt correlate to their current venture resulting in the same..dyor.
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4H1W
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4X and it just keeps going..
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