Kadena / US Dollar Cryptocurrency Forecast
Kadena / US Dollar cryptocurrency upgraded from Sell Candidate to Hold/Accumulate after Sunday trading session.
(Updated on May 19, 2024)
The Kadena / US Dollar cryptocurrency price gained 0.86% on the last trading day (Sunday, 19th May 2024), rising from $0.82 to $0.83. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the cryptocurrency fluctuated 3.47% from a day low at $0.81 to a day high of $0.83. The price has risen in 6 of the last 10 days and is up by 1.35% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 437 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $1.85 million.
The cryptocurrency lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.741 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the cryptocurrency is expected to fall -37.62% during the next 3 months and, with a 90% probability hold a price between $0.462 and $0.84 at the end of this 3-month period.
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KDAUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 15, 2024, and so far it has risen 6.18%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. 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 a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the cryptocurrency giving a more negative forecast for the stock. On further gains, the cryptocurrency will meet resistance from the long-term Moving Average at $0.87. On a fall, the cryptocurrency will find some support from the short-term average at $0.797. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Kadena / US Dollar cryptocurrency
Kadena / US Dollar finds support from accumulated volume at $0.81 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 $0.0280 between high and low, or 3.47%. For the last week, the cryptocurrency has had daily average volatility of 4.46%.
Our recommended stop-loss: $0.789 (-4.34%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (KDAUSD) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Kadena / US Dollar to open at $0.82, and during the day (based on 14 day Average True Range), to move between $0.765 and $0.89, which gives a possible trading interval of +/-$0.0601 (+/-7.29%) up or down from last closing price. If Kadena / US Dollar takes out the full calculated possible swing range there will be an estimated 14.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.81 (1.33%) than the resistance at $0.91 (9.82%), 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 positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.989 Hold/Accumulate Upgraded
Predicted Opening Price for Kadena / US Dollar of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.82 ( 0.404%) | $0.83 |
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 | 0.85 | 2.99 % | |
| R2 | 0.84 | 1.69 % | ||
| R1 | 0.83 | 0.89 % | ||
| Current price: | 0.83 | |||
| Support | S1 | 0.81 | -1.70 % | |
| S2 | 0.80 | -2.50 % | ||
| S3 | 0.794 | -3.80 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.02 | 23.03 % | |
| R2 | 0.95 | 15.52 % | ||
| R1 | 0.91 | 9.82 % | ||
| Current price | 0.83 | |||
| Support | S1 | 0.81 | -1.33% | |
| S2 | 0.787 | -4.61% | ||
| S3 | 0.777 | -5.82% |
FAQ
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