Kadena / US Dollar Cryptocurrency Forecast
Stronger technical forecast for Kadena / US Dollar cryptocurrency price after Wednesday trading.
(Updated on May 08, 2024)
The Kadena / US Dollar cryptocurrency price fell by -1.73% on the last day (Wednesday, 8th May 2024) from $0.87 to $0.85. During the last trading day the cryptocurrency fluctuated 4.74% from a day low at $0.84 to a day high of $0.88. The price has fallen in 7 of the last 10 days and is down by -7% for this period. Volume fell on the last day along with the cryptocurrency, which is actually a good sign as volume should follow the cryptocurrency. On the last day, the trading volume fell by -2 million shares and in total, 2 million shares were bought and sold for approximately $1.73 million.
The cryptocurrency lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to fall -20.25% during the next 3 months and, with a 90% probability hold a price between $0.465 and $1.34 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
KDAUSD Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Kadena / US Dollar cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.88 and $1.00. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 15, 2024, and so far it has fallen -56.16%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Kadena / US Dollar cryptocurrency
Kadena / US Dollar finds support from accumulated volume at $0.84 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the cryptocurrency moved $0.0400 between high and low, or 4.74%. For the last week, the cryptocurrency has had daily average volatility of 6.43%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (KDAUSD) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Kadena / US Dollar to open at $0.86, and during the day (based on 14 day Average True Range), to move between $0.766 and $0.93, which gives a possible trading interval of +/-$0.0838 (+/-9.86%) up or down from last closing price. If Kadena / US Dollar takes out the full calculated possible swing range there will be an estimated 19.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.84 (0.94%) than the resistance at $0.91 (6.59%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Kadena / US Dollar cryptocurrency A Buy?
Kadena / US Dollar holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this cryptocurrency. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.875 Sell Candidate Upgraded
Predicted Opening Price for Kadena / US Dollar of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $0.86 ( 1.02%) | $0.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KDAUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.90 | 5.73 % | |
| R2 | 0.88 | 3.93 % | ||
| R1 | 0.87 | 2.82 % | ||
| Current price: | 0.85 | |||
| Support | S1 | 0.84 | -0.778 % | |
| S2 | 0.83 | -1.89 % | ||
| S3 | 0.82 | -3.69 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.02 | 19.41 % | |
| R2 | 0.95 | 12.12 % | ||
| R1 | 0.91 | 6.59 % | ||
| Current price | 0.85 | |||
| Support | S1 | 0.84 | -0.94% | |
| S2 | 0.83 | -2.12% | ||
| S3 | 0 | . |
FAQ
Click here for our free guide on how to buy Kadena / US Dollar Cryptocurrency.
