Long

Kadena is breaking out (Compare Sol)

Updated

I have been in a position of KDA for a while now but the break out of this triangle consolidation has just begun. IF price reaches the red ray, I get liquidated on this trade. I see lots of upside for Kadena and my ultimate target is around $600 as shown by the draw below. In my analysis KDA is more bullish overall than SOL and if SOL can go from less than $2 to over $250 in one market cycle KDA can get to $500,

Here is the KDA/SOL chart. It is easy to see that this has just been a time for KDA to pull back a bit against SOL and other cryptos before it goes to the upside in big ways.

Here is a zoom out of what happened the last time price beat the 12h ema ribbon. That gains baby.

Note

Price has completed a break out on the 12 hour time frame of the ribbon and is once again testing the 20 EMA as support. The Ribbon is starting to fan out and so this move is progressing nicely.

Note

I have closed out the margin portion of this trade as the triangle broke down so I basically was able to buy this Kadena on a discount. In my cross margin account I have taken a position against SOL using by KDA as equity. Not sure I will write up that idea.

Could be some considerable downside for crypto, especially depending on the project.

This_Guhy

And I promise every Floridian that you will all be rich... because we're gonna print some more money! Why didn't anybody ever think of this before?

~Nathan Explosion

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