KADENA - UPDATE! (FALLING WEDGE👀)
Updated
In our first Kadena (KDA) analysis we predicted the drop from ath's and identified buy areas to scoop up a few as shown below:
After getting our DCA zone we then updated the chart again but have had a hard time getting our Wife Changing Money Area ever since:
In this update, from the chart above, we can see that price has managed to form what looks to be a falling wedge pattern which we failed to take note of the previous analysis. Pray this be a falling wedge pattern, we can expect price to touch support once more before heading for a breakout (as we know a pattern of this sort usually has it's breakout moment near it's apex).
Note that it can be both a continuation pattern and a reversal pattern, so make sure to use a stop-loss if you aren't in it for the long haul.
Should that not be the case, we can expect to continue our Dollar Cost Average Strategy till we get our WIFE CHANGING MONEY ZONE
- 19 year old
If you like what you see, pls leave a like, share, and comment your thoughts below.
As always, feedback is appreciated!🙏
After getting our DCA zone we then updated the chart again but have had a hard time getting our Wife Changing Money Area ever since:
In this update, from the chart above, we can see that price has managed to form what looks to be a falling wedge pattern which we failed to take note of the previous analysis. Pray this be a falling wedge pattern, we can expect price to touch support once more before heading for a breakout (as we know a pattern of this sort usually has it's breakout moment near it's apex).
Note that it can be both a continuation pattern and a reversal pattern, so make sure to use a stop-loss if you aren't in it for the long haul.
Should that not be the case, we can expect to continue our Dollar Cost Average Strategy till we get our WIFE CHANGING MONEY ZONE
- 19 year old
If you like what you see, pls leave a like, share, and comment your thoughts below.
As always, feedback is appreciated!🙏
Note
Kadena listing on Binance, Price up more than 20% and it's about to break our falling wedge pattern already.Will be watching closely and scaling in accordingly
Note
Since our last update kda has failed to close above the falling wedge pattern despite listing on Binance.However, another listing has taken place over at Okcoin exchange and price is attempting a breakout once more. A close above trend resistance would be confirmation for continuation up to horizontal resistance.
Beware of another fakeout scenario. If binance listing couldn't get us a breakout, I doubt Okcoin will, but we keep an open mind and adjust for change.
Note
Well we closed above, Buying more. Still be cautious of a fakeout.Trade active
Kda has give us another bit of confirmation as to where price is headed next (Upside). As you see, price has broken our falling wedge pattern and closed above the fakeout trendline that occurred recently, coupled with the ATR Bands signalling a long on the daily time frame. All signs poin towards a pump.
But let's not lose our heads and get too cocky now. Next price target is at $8.69 & $10.21. Soon we will see KDA above $50!
Note
KDA has broked below our green horizontal accumulation zone as well as the trend support for the symmetrical triangle.
Now going for a retest of the pennant breakout, inline with horizontal 12h support and a larger acuumulation support zone, Kda needs to bounce from there, otherwise we might end up at support of the pennant before attempting a breakout once more.
Note
Kda has broken back into the falling wedge structure.Can't say i'm shocked honestly. We will update this on the monthly close
Note
Kadena has failed to retest the breakout of the falling wedge as support and could now be headed to our desired price of 2/kda.
A breakdown from this falling wedge will be confirmation for a move further down to 1.95 before expecting a bounce, possibly a wick to our volatility region.
Proceed with caution and proper risk management.
I added on support.
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