The Bulls are targeting round level of $10 above triangle pattenThe Kadena coin price has been trading into the symmetrical triangle pattern for the past several days.
The daily price chart of Kadena is above the 20-day moving average.
the coin has immediate support at $4.50, and the resistance sits at $16.50. But for the current scenario, the coin's price will have to break out of the triangle pattern for confirmation.
The Kadena coin price is still trading above the EMA Ribbon indicator. But it seems that bears are attempting to breach the daily price below the Red lines as well as the 200-day moving average (yellow line).
Stoch RSI is holding higher in the overbought zone with reference to the daily price chart, where K is at 88-point and D is at 91-point. On the other hand, Stoch RSI formed a bearish crossover today. It remains to be seen whether the bears break out of the triangle pattern with the help of the Stoch RSI sign.
Conclusion
The Kadena coin price trend is creating a little confusion for the traders. There will be two conditions; if the price breaks the symmetrical triangle pattern on the upside, we can see fresh all-time highs; On the other hand, if the bulls fail to maintain the price above the chart pattern, the bears
Support level - $4.5 and $2.5
Resistance level - $10 and $16.5
