Kadena price analysis: Kadena flying high to $17, gaining 50 percent overnight

TL;DR Breakdown

  • Kadena has gained 700 percent over the last month.
  • Kadena price analysis is strongly bullish today.
  • The KDA/USD discovers another high.
  • The nearest support for KDA is found at $10.7.

The Kadena is in full bullish swing discovering new highs with every passing day like there is no stopping by. Kadena started showing a little progress from August, but notable changes were observed from 6th September onwards when Kadena touched the $1 level and on 4th October reached $2. Throughout this time, price surges were followed by corrections, and a wavy price pattern was formed, which is quite normal. But from 18th October onwards, Kadena skyrocketed by making huge leaps forward, and on 24th October, the price was capped at $6.9, which was quite a substantial gain.

From 3rd November, Kadena is again on a bullish flight and has been marking newer record highs every day, with the highest price observed today at $18.5 at one instance but retraced back to the $17 range.

KDA/USD 1-day price chart: KDA bulls on the move gaining 50 percent

The 1-day price chart for Kadena price analysis shows the coin discovered a new record high today after capping at $14.9 yesterday. Bulls covered more upwards range, and the KDA/USD is now trading hands at $17.8 at the time of writing, gaining a little more than 50 percent value overnight, The coin also reports a 175 percent gain over the past week, and if observed over the last 30 days, the coin has gained a bedazzling 700 percent during this time. The trading volume has gone up by 94 percent over the last 24 hours.

Kadena price analysis: Kadena flying high to $17, gaining 50 percent overnight 1
KDA/USD 1-day price chart. Source: Tradingview

The Kadena at present is highly volatile as it rose from nothing to a racing start in a couple of days. The Bollinger bands show vast expansion to meet the volatile condition of the cryptocurrency, with the upper band at $14.5 representing support for the coin.

The Kadena shows oversold conditions as the relative strength index (RSI) is trading at index 89 in the oversold region. The RSI entered the oversold region on 2nd November and still continues on an upwards curve indicating buyers’ dominance in the market.

Kadena price analysis: Recent developments and further technical indications

The 4-hour Kadena price analysis shows that the Price is on the increase from the last 20 hours, with the highest jump observed in the very last hours, which happens to be the starting four hours of today’s session. Looking at the previous trends, after an increase for such a period of time, usually, the correction starts. So a correction might soon start any time.

Kadena price analysis: Kadena flying high to $17, gaining 50 percent overnight 2
KDA/USD 4-hours price chart. Source: Tradingview

The Volatility is also high on the 4-hour chart, with the upper Bollinger band at $15.5 representing support and the lower band at $6.4, making an average at $10.9. The RSI is also on an upwards curve on the 4-hour chart as well, as it trades at index 87. The moving average is also present above the Bollinger bands average at the $12.6 mark.

As the Kadena has been overall bullish for more than a month now, the majority of technical indicators are also supporting the bullish side, amounting to 16 indicators, and only two technical indicators support the bearish side. However, eight technical indicators stand neutral out of a total of 26 technical indicators available for Kadena price analysis.

Kadena price analysis: Conclusion

The Kadena price analysis suggests that the coin is flying high in a bullish flight. Kadena’s success is being compared to that of Solana when it gained 10x value going from $20 something to $250 with receiving investment from key figures of the industry and continuous development of the ecosystem, and Solana never looked back. So the question is, can something like this happen again with something else? The answer is yes, of course, yes, it’s an evolving crypto world, and magic is in the air all the time. Traders can expect a small correction in the coming hours, followed by more upside. For HODL, time will tell if we will see astonishing figures or a reverse track.

Disclaimer. The information provided is not trading advice. holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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