KDA - More Alt Picks 1 🚀I'm going in for some newer coins and this one is lower ranked, currently 99.
KDA has had one bull rally while BTC rallied to a corrective top.
This is a nice clean chart for fibs. KDA has hit the log 1:1 extension from the November top and currently sits just below.
And this is also within a very common reversal area from 0.618 - 0.786.
It is possible however that KDA could move down to the next fib extension - the 1.618 @ $0.5, but unless BTC falls sub 15K I can't see that happening and I dont think BTC will.
So therefore the 1:1 I am fairly confident will be what I would call the "anchoring fib." KDA can continue to fall but I would expect it to reverse within the vicinity of the 1 and not the 1.618.
Also RSI is way down - 20% below the low.
Now in terms of upside if KDA did print only a retracement from the November high then the common upside reversal area would be around $11 - $14.
However with these newer coins there is the possibility that even only as BTC bounces they could go on another bull rally and find a higher high.
A log 1:1 extension would see KDA hit a whopping $123! That would approximately be a x100!
Thanks to @mrdeadly for the tip on this one.
If you're a crypto kid deep in crypto land and know of great new coins do feel free to let me know
Not advice.
