After Breaking Huge Channel Kadena (KDA) Is Now Re-Testing Its Resistance As Support

 


Hi friends hope you are well, and welcome to the new update on KDA.

On a weekly time frame, KDA has already broken out a big down channel and not re-testing the previous resistance of the channel as support.

On a daily time frame, KDA has formed a broadening wedge pattern, and now it has again dropped at the support of the wedge. At the same time, there is also a hidden bullish divergence flashed on this daily time frame, therefore, a price reversal is possible.

For a detailed analysis, you can also watch the video.


Comments

Post a Comment

Popular posts from this blog

Is Bitcoin (BTC) Crash Really Over?

Image
  Introduction In today's update, we'll explore a powerful indicator to measure Bitcoin's bull runs. When this indicator turns green on a weekly timeframe chart, it signals a bullish trend. Conversely, when it turns red, it indicates a long-term bearish trend. Let's dive into the current market conditions and analyze some key indicators.   Supertrend Indicator:   Historical Performance of Supertrend Indicator:   Green Signal : Indicates a bull run. For example, in May 2019, the indicator turned green, signaling a bullish trend that followed until a brief period of red during the COVID-19 crash. Red Signal : Signals a bearish trend. Historical data shows significant drops during these periods, such as the long bearish trend post-December 2017.   ADX and Directional Movement Index The Average Directional Index (ADX) and the Directional Movement Index (DMI) provide additional insights: Negative Directional Index (Red) : Currently crossing above the Positive Directi...
Read more

Verasity VRA Crypto Coin Update!

Image
  Introduction Hey friends hope you are well and welcome to the new update on Verasity. Previously I discussed the formation of another down channel on the daily timeframe chart. This article will provide an update on the recent movements of VRA and analyze its current position. Recent Developments In the last 24 hours, VRA has once again reached the resistance of the down channel. Additionally, it has broken out of a significant long-term resistance at $0.0035. On the weekly timeframe, this $0.0035 level has previously acted as a strong support, and now on the daily timeframe, it has broken out and is retesting the previous resistance as support. Technical Analysis   Daily Timeframe Chart VRA was previously moving inside a wedge pattern. After breaking out of the wedge, the target was set at approximately $0.0088, which the price surpassed. The price then encountered a long-term downtrend line resistance forming a new channel. A double bottom was formed at the $0.00280 suppor...
Read more

BITCOIN (BTC) | Another Attempt For The Big Breakout

Image
  Bounced from the support: The price action of the leading cryptocurrency is moving in a  descending triangle  and at the same time, it is moving between the resistance and the support levels from $31K to $39.5K. Previously we have been watching that the  volume profile  of the complete price action is showing that there is a weak interest of the traders close to the support and showing a strong interest of the traders even above the resistance of the  descending triangle  . The price action followed this signal and again bounced by $31000. It is to be noticed that so far we are not having any closing below the $31K  support level  on the daily time frame chart. Different indicators are giving  bullish  signals: If we take a look at the  volume  then it can be noticed that even though the priceline of  Bitcoin  reached the support $31000 but the sell  volume  was not powerful. Finally, the price action...
Read more