Kadena (KDA) Holds Key Support – Can the Double Bottom Pattern Spark a Recovery?

 Wed, March 19, 2025 | 09:38 AM GMT

The crypto market is showing early signs of a rebound ashas bounced back from last week’s low of $1,774 and is now trading above $2,000—a promising shift after a choppy start to March. As sentiment gradually improves, altcoins likeare beginning to stir as well.

KDA has taken a heavy hit over the past few months, but with impressive weekly gains and ongoing price action suggests that a

Double Bottom Pattern Hints at Recovery

On the weekly chart, KDA has formed a classic double-bottom pattern after experiencing a sharp downtrend that started when it failed to break the $1.98 neckline resistance in early December 2024. Since then, KDA has revisited the $0.36 support level, marking the second bottom of the pattern.

With this pattern forming, KDA has held this support and has now bounced to $0.49, indicating a potential shift in trend. The MACD indicator for KDA is also hinting at a possible bullish crossover, suggesting that momentum could continue to build.

If this recovery gains further strength, the next key resistance level is the 25-day moving average (MA). A decisive move above this level would confirm the uptrend and could pave the way for an attempt to reclaim the $1.98 neckline resistance in the NEAR term.

Final Thoughts

While the broader market remains volatile, KDA’s technical setup looks promising for a potential bullish breakout. However, a failure to hold $0.36 support could invalidate the double-bottom formation, leading to further downside. Traders should watch for a decisive move above key resistance levels to confirm the trend reversal.

This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before investing in cryptocurrencies.