Kadena ($KDA ): Is a Reversal on the Horizon?

Kadena (KDA) has caught the spotlight with a major surge today, climbing over 30% at its peak and still holding a solid +18%.

This spike follows Binance's announcement of USD-margined perpetual contracts for KDA. But is this rise a long-term reversal or just a short-term reaction?

Here’s a quick breakdown.

1️⃣ Key Technical Levels

- Support at $0.40: After months of decline, KDA found strong support around $0.40 and bounced back from this level multiple times.

- Resistance at $0.66: The next key area is $0.66. If KDA can break and hold above this resistance, it signals a more sustainable uptrend.

- Targets: $0.86 and $0.95: If KDA clears $0.66, the next resistance zones to watch are $0.86 and $0.95, with potential to reach $1 if momentum builds.

2️⃣ What’s Next?

- Reversal Confirmation: A close above $0.66 is critical for a lasting bullish trend. If KDA can't break this, a pullback is likely.

- Possible Pullback: Failure to break $0.66 could lead to a drop back to $0.50-$0.52, or even down to $0.41 if the market turns bearish.

3️⃣ Volume Analysis

Volume is increasing, which is a positive sign for KDA. However, more volume is needed to confirm a breakout above $0.66.

Final Takeaway

Kadena’s surge looks promising, but it all depends on breaking $0.66. If it succeeds, targets of $0.86 and $0.95 are realistic.

Watch for volume and price action to confirm a lasting reversal.

#KDA #BinanceTurns7 #Token2049 #FTXSolanaRedemption #Write2Earn!