KDA coin price shows a bullish reversal from the $8.90 horizontal level and aims to break above the $13 barrier as the buying pressure grows.

Kadena is a publicly-owned blockchain designed to maximize scale and comes with a brand-new smart contract language called Pact, which is equipped with formal validation and smart contracts that can be upgraded.

KDA also employs a revolutionary Proof-of-Work (PoW) method of consensus known as Chainweb made up of several independently mined chains that work in tandem to perform network transactions.

Let us read ahead to know more about the Kadena technical analysis.
<h2>Past Performance of KDA</h2>
<a href="https://www.cryptoknowmics.com/news/kda-technical-analysis-rising-to-be-efficient-and-fast-for-uses-kda-moves-at-a-steady-pace/">For the last two months</a>, the KDA coin price keeps moving lower and breaking multiple support levels. Thus, resulting in a downfall of 65%. However, the recent support from $8.9 results in a consolidation range with resistance at $13.25.

However, the recent retracement with the increased buying pressure indicates a high possibility of a bullish breakout. Therefore, traders need to keep a careful watch on the KDA price action.

<img src="https://s3.tradingview.com/snapshots/j/JN9BYbVn.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/JN9BYbVn/">KDA/USD 4-hour Chart</a>
<h2>KDA Technical Analysis</h2>
With the recent bullish reversal in the consolidation range, the KDA coin price brings bullish powers back into action. Moreover, the price action gives a breakout of a cup and handle pattern.

Therefore, the increasing bullish sentiments in the price action hints at the breakout of $13. However, the next resistance lies at $16. On a contrary note, the support levels are at $10 and $9.

<img src="https://s3.tradingview.com/snapshots/x/x0AAZSGp.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/x0AAZSGp/">KDA/USD Daily Chart</a>

The RSI indicator at 47% continues to make higher low formation to rise higher into the nearly oversold zone. However, the slope is yet to break above the 50% line in the daily chart. Therefore, the breakout of the 50% line could initiate a new bull run.

Furthermore, the MACD indicator shows a bullish crossover in the daily chart near the -1.30 level. Therefore, traders can soon see a rise in buyer’s and seller’s lines.

In a nutshell, the indicators give a BUY signal for the KDA coin. However, the price action suggests showing some patience and wait till the breakout of the $13 mark. 
<h2>Upcoming Trend</h2>
The upcoming trend in KDA coin price depends on the price action near the $13 mark. A highly possible bullish breakout can result in a bull run to the following prominent resistance level. However, a reversal will lead to a continuation of the consolidation range.

KDA Technical Analysis: Bullish Reversal with Increased Pressure Aims to Break Multiple Barriers

KDA coin price shows a bullish reversal from the $8.90 horizontal level and aims to break above the $13 barrier as the buying pressure grows.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

KDA Technical Analysis: Bullish Reversal with Increased Pressure Aims to Break Multiple Barriers

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