KDA Trading Activity Becomes Flat as KDA Posts 24-Hour Gains
2022.06.03 16:01
KDA Trading Activity Becomes Flat as KDA Posts 24-Hour Gains
- Kadena’s price has risen to $2.10 in the last 24 hours.
- KDA has also strengthened against both BTC and ETH.
- The price of KDA could fall to around $1.56 or even set a new low if it remains under the 20 EMA line.
The price of Kadena (KDA) has risen in the last 24 hours to $2.10, which is an approximate 2.79% rise in price, according to CoinMarketCap.
KDA’s price is slightly up over the last seven days as well, experiencing a small rise of 1.41%. The 24-hour chart has pushed the weekly performance of KDA’s price movement into the positive.
In terms of KDA’s performance, it has strengthened against both Ethereum (ETH) and Bitcoin (BTC). At the time of writing, 1 KDA token is worth 0.00006927 BTC or 0.001159 ETH. This is a 1.47% increase on BTC and a 3.67% increase on ETH.
Ranked 98th on CoinMarketCap’s list of the largest cryptocurrency projects by market cap, KDA’s market cap currently stands at $386,608,881. The daily trading volume of KDA has fallen, dropping by 36.63% in the last 24 hours. The 24-hour trading volume for KDA now stands at $14,474,668.
KDA price turns flat (Source: TradingView)
Looking at the daily chart for KDA/USDT, the trading activity around the coin has become relatively flat as the trading volume dips over the last few days. The relationship between the RSI and RSI SMA line also shows indecisiveness and consolidation as the two lines are unable to break away from each other.
The 20 EMA is still positioned below the 50 EMA, which is a sign that the coin is in a bearish cycle. Lastly, the 20 EMA seems to be acting as a resistance for KDA’s price as its price has been unable to break past the line since the beginning of April.
Should the trading activity remain flat, we could see KDA’s price drop lower as the 20 EMA line is negatively sloped. The price of KDA could then fall to around $1.56 or even set a new low if it remains under the 20 EMA line.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.
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