$KDA - Time for Reversal or Keep Going Down?Kadena has had a nice run in November from around $6 all the way to around $28!
However, since its top, we have reached around 60% down from all time highs in November 11th.
Since then, it has been in a consistent downtrend.
However, at these levels, are buyers ready to step up?
We are now sitting in the lower channel on $10.45 - $13.30 range.
For Longs - Need to hold $10 support level.
Ultimately breakout of this channel and create new highs above $12.9.
For Shorts - We would like to stay under $13 resistance level
As well as Breakdown Channel under $10.25.
Let me know what you all think.
KDAUSDT trade ideas
KDA/USDT on a 15m chart- double top
- bearish TK cross
- large gap in between the conversion line & base line = bearish
- support around $9.7 may break as its been tested a number of times in the past, however if this does break a support at $8.7 will hold
- thx to BTC for this retracement, also BTC to $42.5k
KADENA - EASY SETUP 🚀Kadena is showing us a very simple and easy setup. We had an impulse and now we're in an ABC correction, which will be followed up by another major impulse. Only question is where will the C wave stop.
We have 2 areas where we are looking for the end of C and the start of the impulse.
First area: 8.5 to 9
Double bottom area
Second area: 3.3 to 4
-0.27 fib
Trade Idea:
- Watch for the completion of C wave at one of the 2 areas mentioned
- Enter when bullish price action appears
- Put stops below the rejected price
- Targets: 28 - 33 - Hold the rest
Goodluck!
KDAUSDT is creating a falling wedgeKDAUSDT is creating a falling wedge inside the daily structure.
IF the price is going to have a breakout, According to Plancton's strategy (check our Academy ), we can set a nice order
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Breakout confirmed, possible batLike expected the bear flag broke out to the downside, breaking the trendline suport. We had a retest and now its heading further down, perfect for dca.
There is a gap below 9$, so curious to see how kda will react to the previous low. We could bounce back from there, create a double bottem reversal pattern and a possible bat formation suggest we should seek up previous ath.
If the 9$ doesnt offer suport, we will visit the 6$
Timing wise, btc is looking to hit his trendline in 2 weeks, where i expect a bounce. This is the same timing i see for the kda bottem around sunday 16jan.
From there its just pure moon.
Not financial advise, this is pure for my own educational research and backtesting theories.
Kda bear flag breakoutKda was forming a bear flag on the 1H and is currently braking out to the downside. With this breakout is also broke the daily trendline suport to the downside.
Also there is a dead cross on the 4h, wich is bearish too
On the daily, it looks like we are in the 3th correction wave, with wave 2 top at 18$
According to the flag theory, the breakout is as long as the pole, wich gives us a target of 8$ of the 3th correction wave.
8$ is also the top of the monthly buy zone, from 6$ to 8$.
As we have no idea when kda will be listed , wich could trigger a parabolic move, i wouldnt wait to buy kda at the bottem, so im dca. I started at 14$, with 40$ tp1 longterm, but at the moment it looks like we could hit the wife changing money zone of 8$.
Ill add 20% each target.
12$ 10$ 8$ 6$
KDA Based on Elliot waves we're in the fourth motive wave. We can project that the ending point would be around 6 dollars or possibly down to 3-4 dollars (6 is where the .764 fib is and 3-4 is around the .886). Using the VPVR(volume profile indicator) those areas are also large areas of support. In the book we're told a good projection for the fourth wave is usually making a parallel channel between points 1 and 3, and then down to the 2nd.
This channel isn't concrete and is known to be wrong at time but they're a very good reference point a majority of the time, and I will adjust if necessary.
One thing that intrigues me is the idea that the third wave might actually not be done and we might have just started the 5th inner/primary wave of the 3rd motive wave -- I haven't gone in to count the smaller waves.
One reason why I'm saying this is possible is more just because the MFI and stoch RSI are in over sold regions, but since momentum isn't following I wouldn't entertain that possibility at all just yet.
Looking forward to big announcements coming from this project!
Short term possibly Short and long term LONG
KDA to $100?i believe an upcoming BTC correction is coming before the end of Jan
with this drop alts could suffer while some alts could pump
with kda i believe it can drop to $6 and then pump back up
although with this drop it could reach the 0.113 fib level at around $3.50
my mid term target for KDA is $100 in the next 6 months
and $40 in the next 2 months, although with a binance listing this could happen straight away