KDA coin price action forms a symmetrical triangle showcasing a bullish reversal. Will buyers drag the uptrend resulting in a bullish breakout?

Key technical points:
<ul>
 	<li style="font-weight: 400">KDA prices have increased by 6.95% in the past 24 hours.</li>
 	<li style="font-weight: 400">The bullish reversal struggles near the 50-day EMA.</li>
 	<li style="font-weight: 400">Finally, the 24-hour trading volume of Kadena is $81.73 Million, marking an 8.43% rise.</li>
</ul>
<h2>Past Performance of KDA</h2>
KDA coin price ends the long-coming downtrend with the bottom creation near the $4.25 mark. The reversal creates higher low and lower high formations resulting in a symmetrical triangle pattern in the daily chart. Moreover, the 50-day EMA provides a dynamic barrier as it moves along the descending trendline.

<img src="https://s3.tradingview.com/snapshots/m/m6bIsMOR.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/m6bIsMOR/">Tradingview</a>
<h2>KDA Technical Analysis </h2>
KDA coin price action shows lower price rejection from the support trendline and challenges the $1.80 supply zone with the new bullish engulfing candlestick. Hence, traders can find a bullish breakout entry opportunity briefly. 

The crucial daily EMAs (50, 100, and 200-days) strive to achieve the bearish alignment with the 100 and 200-day EMA crossover. However, the possibility of a bullish breakout correlates to the golden crossover and reacquire the bullish alignment.

RSI Indicator: The RSI slope ends the chaotic sideways movement at the halfway line after the recent spike into the nearly overnight zone.

MACD Indicator: The MACD and signal lines regain the bullish trend, with the fast line annoying a bearish crossover. Moreover, the bullish histograms continue the uptrend reflecting the solid underlying bullishness.

In a nutshell, the KDA technical analysis projects a high possibility of a bullish triangle breakout.
<h2>Upcoming Trend </h2>
The KDA/USD technical chart shows a symmetrical triangle pattern that may shortly provide a breakout entry opportunity. However, traders must avoid taking positions under FOMO and wait for the price action confirmation.

Support Levels: $5.75 and $5.00

Resistance Levels: $7.65 and $8.50

KDA Technical Analysis: Can Triangle Breakout Rally Surpass $2?

KDA coin price action forms a symmetrical triangle showcasing a bullish reversal. Will buyers drag the uptrend resulting in a bullish breakout?

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: Can Triangle Breakout Rally Surpass $2?

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