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ALMOST AT THE BOTTOM - (KADENA UPDATE ANALYSIS)Carrying on with our series of analysis on Kadena(KDA), our search for the bottom is nearing it's end hopefully. In our previous analysis we identified a falling wedge pattern that could signal a reversal to the upside for kda, however it failed to do any good. Analysis with updates shown below(refer for context); While we now have our buy region of $2 finally, are we bottomed out yet? Referring back to our original analysis shown below, we pointed out the $1-$0.9 region to try our luck for volatility for an alternate entry; This level is in line with the golden pocket. Other Ideas: Bringing us to this point in time. KDA has broken back into its channel up, and also a rising wedge in the process. Our volatility region falls in line with the bottom of the rising wedge structure and the golden pocket. If that were to break then we simply cannot rule out bottom of the channel as a possible price target where we also have strong horizontal support. Targets will be revised if needed depending on where price finds support. If you've benefitted from this series of analysis so far, I'm happy it was helpful. If you agree, pls like share and comment your thoughts below. As always, feed back is appreciated! Bitcoin will play a huge role in determining the outcome
by RektMyMom
6
KADENA - UPDATE! (FALLING WEDGE👀)In our first Kadena (KDA) analysis we predicted the drop from ath's and identified buy areas to scoop up a few as shown below: After getting our DCA zone we then updated the chart again but have had a hard time getting our Wife Changing Money Area ever since: In this update, from the chart above, we can see that price has managed to form what looks to be a falling wedge pattern which we failed to take note of the previous analysis. Pray this be a falling wedge pattern, we can expect price to touch support once more before heading for a breakout (as we know a pattern of this sort usually has it's breakout moment near it's apex). Note that it can be both a continuation pattern and a reversal pattern, so make sure to use a stop-loss if you aren't in it for the long haul. Should that not be the case, we can expect to continue our Dollar Cost Average Strategy till we get our WIFE CHANGING MONEY ZONE - 19 year old If you like what you see, pls leave a like, share, and comment your thoughts below. As always, feedback is appreciated!🙏
by RektMyMom
11
KADENA WILL ENTER PRICE DISCOVERY! UNDERVALUED PROJECTHello Traders! Today we will consider the trading pair KDA/USDT First-off, from a fundamental point of view, Kadena is a solid project with appealing Use Cases Launching one of the world's first scalable ready for application, Public braided blockchain, Delivers Security & throughput, with a mission to unite public applications, private blockchains, and other interoperable blockchains in one place, driving traffic to the high-bandwith computer at the heartof the Kadena public blockchain. Ohh, Forgot to mention it processes more transactions per second than solana. 480,000 transactions/second compared to Solana's 2,777 all thanks to it's braided chains. Moving to the Technical Aspect of things, the chart above suggests Kadena is undervalued coupled with it's fundamentals. Bullish Divergence formed complicated things, therefore we consider multiple scenarios if not all. Currently in a large degre 5-way impulse move(orange), price action is yet to complete the 3rd wave. 3rd wave consisting of a smaller degree 5-way impulse move(blue) looks to be either in the 4th (correction) wave still, or on coure for it's 5th impulse wave to complete the larger-degree 3rd wave. (Still holding it's ascending trendline, white pathway looks valid for the time being) Highlighted are pathways price could follow, each following the rules of the wave count. DCA zone/240(1) support is a good area to grab some irrespective of which scenario plays out. Blue support zone down at the D4 support area(0.618 support) is the best place for large buys and to go long. Green confluence zone is a take profit area with confluence irrespective of which scenario plays out, Blue Resistance zone is Main target should wave 5 be much longer than wave 1. Either way, Wave 3 looks to be the longest making this a Third Wave Extension.
Long
by RektMyMom
14