KDA price action shows a successful retest phase of the broken resistance trendline resulting in a 16% growth candle. Will the reversal rally reach $3.50?

Key technical points:
<ul>
 	<li style="font-weight: 400">KDA prices have increased by 16% overnight.</li>
 	<li style="font-weight: 400">The Stochastic RSI reveals a bullish crossover possibility.</li>
 	<li style="font-weight: 400">The 24-hour trading volume of Kadena is $55 Million, reflecting a 23% fall. </li>
</ul>
<h2>Past Performance of KDA</h2>
KDA prices broke above the crucial resistance trendline in the daily chart, which kept the downtrend, accounting for an 80% fall, in motion. The bullish reversal from the $1.5 made three consecutive bullish candles reach $3.35, accounting for a 116% surge in market value. However, the bullish failure to sustain the buying pressure led to a takeover by sellers above $3, resulting in a retest of the resistance trendline.

<img src="https://s3.tradingview.com/snapshots/a/Am6OMHQj.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/Am6OMHQj/">Tradingview</a>
<h2>KDA Technical Analysis </h2>
KDA price action grows drastically overnight with a 16% bullish candle from the $2.30 support level. This resurgence of buyers indicates the start of a post-retest reversal. Hence, the chances of a prolonged uptrend increase significantly.  

The crucial EMAs maintain a bearish trend after the recent negative crossover of the 100 and 200-day EMAs. However, the trendline retest might lead to a bullish rally to the 50-day EMA. 

The RSI slope struggles to reach the halfway line as it moves sideways trend in the nearly oversold zone. However, despite a sideways trend, the reversal from the oversold zone breaks the bearish influence of the 14-day SMA.

The Stochastic RSI shows the K and D lines ready to regain the bullish alignment to undermine the previous bearish crossover. Moreover, the lines sustaining in the overbought zone reflect a solid bullish trend.

In short, the KDA technical analysis projects a post-reversal rally ready to pick up the pace and reach the $3.5mark.
<h2>Upcoming Trend</h2>
If KDA prices sustain the bullish momentum, an upside rally to $3.5 seems inevitable, which will increase the breakout chances to reach 50-day EMA at $4.25. 

Support Levels: $2.30 and $1.30

Resistance Levels: $3.50 and $4.25

KDA Technical Analysis: KDA Buyers Resurface Upon Retest

KDA price action shows a successful retest phase of the broken resistance trendline resulting in a 16% growth candle. Will the reversal rally reach $3.50?

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: KDA Buyers Resurface Upon Retest

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