In this Kadena technical analysis, we will examine the current price action, trading volume, key levels and indicators for KDA-USDT. Kadena (KDA) is a proof-of-work blockchain that utilizes a novel consensus algorithm called “Pact” to achieve high security and scalability. With Pact, Kadena can process over 1,000 transactions per second while maintaining a decentralized network of nodes. Additionally, Kadena’s architecture allows for the integration of smart contracts and decentralized applications (dApps), making it an attractive platform for developers and entrepreneurs.
Kadena Price Overview:
As of May 15, 2024, Kadena is trading at approximately 0.82 USDT. Let’s dive into the detailed price action for KDA-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.778 |
| High (H) | 0.82 |
| Low (L) | 0.776 |
| Close (C) | 0.82 |
| Volume (C) | 1,792,655.49 |
- Open (O): The opening price for today’s trading session was approximately 0.778 USDT.
- High (H): Kadena reached a daily high of around 0.82 USDT.
- Low (L): The daily low for KDA-USDT was approximately 0.776 USDT.
- Close (C): At the time of analysis, Kadena is trading near its daily close of 0.82 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 5.53% |
| 3D Change (%) | 4.19% |
| 7D Change (%) | 0.74% |
| 30D Change (%) | -6.82% |
| 90D Change (%) | -29.07% |
| YTD Change (%) | -38.62% |
Over the past three days, KDAUSDT has increased by approximately 4.19%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 0.74%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with KDAUSDT maintaining a downward trend of approximately -6.82%, despite intermittent fluctuations. Examining the last 90 days, KDAUSDT has witnessed substantial decline of approximately -29.07%, reflecting strong long-term confidence. Year-to-date, KDAUSDT has steadily declined by around -38.62%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Kadena Live Chart:
You can access a live price chart for KDA-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.50801.
- Momentum score is -0.11063.
KDA USDT Technical Analysis
Kadena Trading Volume:
The trading volume for Kadena (KDA) over the past 24 hours has been insignificant, with approximately 1,792,655.49 USDT traded against KDA. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): KDA is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Kadena is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for KDA-USDT is currently in the low zone, around 41.11627. This suggests that Kadena is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Kadena (KDA-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Kadena (KDAUSDT) faces challenges, trading at 8.20e-01 USDT, as technical analysis signals weakened support and cautionary indicators.
For a deeper dive into the subject, don’t miss our comprehensive analysis on KDA BTC Kadena Technical Analysis if you found this post intriguing.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.