ALMOST AT THE BOTTOM - (KADENA UPDATE ANALYSIS)Carrying on with our series of analysis on Kadena(KDA), our search for the bottom is nearing it's end hopefully.
In our previous analysis we identified a falling wedge pattern that could signal a reversal to the upside for kda, however it failed to do any good. Analysis with updates shown below(refer for context);
While we now have our buy region of $2 finally, are we bottomed out yet?
Referring back to our original analysis shown below, we pointed out the $1-$0.9 region to try our luck for volatility for an alternate entry;
This level is in line with the golden pocket.
Other Ideas:
Bringing us to this point in time.
KDA has broken back into its channel up, and also a rising wedge in the process. Our volatility region falls in line with the bottom of the rising wedge structure and the golden pocket. If that were to break then we simply cannot rule out bottom of the channel as a possible price target where we also have strong horizontal support.
Targets will be revised if needed depending on where price finds support.
If you've benefitted from this series of analysis so far, I'm happy it was helpful.
If you agree, pls like share and comment your thoughts below.
As always, feed back is appreciated!
Bitcoin will play a huge role in determining the outcome
