KADENA AND MATIC – ALTCOIN CHART ANALYSIS

Kadena (KDA) is one of the big losers from the bear market so far. With a temporary loss of over 95% from the all-time high, we are now trading at October 2021 levels.

We are currently at around USD 2.52 and are therefore still in a sideways phase without really increasing trading volume. The 4H-EMA Ribbons continue to represent resistance.

After having a significant pump a few days ago, we have stabilized at this level, but a drop back into the USD 1.60 – 1.93 range is not excluded.

On the daily chart we can clearly see the extreme fall of Kadena. We found support at the monthly low of 2021 and could see a first bounce from here.

We have now filled any liquidity gaps which is a good sign as we may have found a potential bottom here. The volume has recently increased significantly.

Now it is still important that we can break the Daily-EMA Ribbons to the top. If we can do that and then see an impulsive move higher, a trend reversal could begin.

Let's take a look at Matic directly on the daily chart. Here we have seen significant buying volume after the dump, which has caused a huge wick. This wick could definitely be filled again to reach that liquidity zone and form a double bottom from here.

Right now we're trading at around $0.64. The range up to approx. USD 0.50 is not excluded, since the monthly support S2 is also located here. Furthermore, this is where most of the liquidity is located.

The green zone represents an important key level and a last high from February 2021. We should not break through this sustainably, otherwise we could face a somewhat longer down phase.

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