Kadena Price Analysis: Kadena is testing the resistance level of the descending pattern

• Kadena Coin Price has taken support at the long-term support of $ 4.60
• The coin is currently testing the resistance downward sloping trend-line
• The coin is behaving in a range-bound fashion on the hourly chart

Kadena Coin price is testing the resistance zone on the daily chart. The coin has made several attempts to break out of the downward sloping trendline resistance and is currently is on another such attempt. The coin has currently taken support at $ 4.50. The coin has formed a resistance zone at $ 14.00 and looks to trade between the zone over the next few trading sessions. It remains to be seen if the coin is able to break out from the descending pattern over the next couple of days.

Kadena Coin Price is in a range-bound exercise on the hourly chart over the last few days. The coin is trading between $ 6.5 and $ 10.20 on the chart. The Relative Strength Index (RSI) indicator indicates neutrality for the coin. The coin was on a sharp bull run before hitting the resistance at $ 10.20 and the coin now looks to consolidate in this zone before making any directional changes.

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Conclusion:

Kadena Coin is in a range between $ 6.50 and $ 10.20 on the hourly chart as it tests the resistance downward sloping trendline on the daily chart. The coin is at a crucial phase after failing to break the resistance on multiple previous attempts.

Support: $ 6.50

Resistance: $ 10.20

DISCLAIMER: The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish any financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.