Kadena Price Prediction 2023: Will the Bulls Rise the KDA Price Beyond $5?

Key Takeaways:

• Kadena price has been fluttering within a narrow range for the past few days after soaring by more than 64% since the start of 2023
• The bulls are utilizing all their strength to trigger a strong rebound and lay down a fine upswing to meet the higher targets in the coming weeks
• The development activity is on rise and hence the price may also be positive impacted as the market participants could be bullish on the project ahead

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Kadena Price History

• Kadena platform was launched in 2016, while its native token was let out for trade by mid-2020 with an initial price of $0.38 and closed the yearly trade with a dip at around $0.15
• The price remained stagnant for the first few days of 2021 and after undergoing a minor spike, ignited a fine upswing in Q4 to mark new highs at $23.98 and quickly fell into a massive bearish well
• After a bearish close to a single digit figure, the KDA price continued with a steep descending trend and marked the bottom of the bear market at around $0.88 at the end of 2022
• The price quickly regained the levels above $1 in the first few days of 2023 and marked the yearly highs close to $1.4. However, the price is experiencing a notable bearish action, yet still stands strong above $1 indicating the revival of a bullish trend after a brief consolidation

Kadena Technical Analysis

Source: Tradingview

• Kadena price after a rebound from the bottom has been trading in an ascending trend within a decisive symmetrical pennant 
• The bulls appear to have held enough strength and hence may not allow the price to drop below the crucial support at $1.2
• Therefore, the price may even break above the resistance of the triangle as RSI continues to point out towards the north despite the price facing a minor bearish pressure
• However, the price may still drop back within the pennant and reach the edge of the consolidation and further trigger a notable upswing later

Overview of Kadena On-chain Analysis:

Kadena Daily Social Dominance

Source: Santiment

The social dominance of a token indicates its presence and popularity across social media platforms. The rise in dominance means the token is gaining more popularity compared to the other top 100 altcoins according to the market cap. The popularity and activity of the token are gauged by the number of social mentions, posts, etc. in its favor. 

Despite the bullish market sentiments in the first few days of 2023, social dominance maintained a descending trend. However, the social dominance of Kadena has rebounded from its lower support and has been rising notably. This indicates the traders have now slowly shifted their focus to Kadena, and hence one can expect a significant impact on price in the coming days.                                                         

Kadena Development Activity

Source: Santiment

The development activity is the measure of the upgrades or developments happening on the platform. It also suggests how serious the core team behind the project is about delivering new features or upgrades. This may have a direct impact on the value of the tokens as the market participants build more confidence in the platform’s robust fundamentals.

Kadena’s development activity has been erratic since Q4 2022, when it hit rock bottom in the first few days of 2023. Since then, the activity has managed to maintain a notable upswing despite a couple of pullbacks. Therefore, it can be assumed that the team behind the project is working tirelessly to deliver the new upgrades and features.

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Kadena Price Prediction for 2023

Kadena’s price has withstood the bearish hindrance throughout the 2022 trade well, due to which the price has been trading within an ascending consolidation. Despite an acute bearish pressure being mounted every now and then, the price has maintained a notable upswing much required for the bulls to hold a tight grip over the rally. Therefore, after withstanding a brief bearish pressure, the price may quickly resume with a notable upswing. 

As mentioned before, the KDA price may maintain a notable price variation for the next few weeks, and by the end of Q1 2023, it may hover around $1.3 to $1.32. Further, in Q2, the price may gain significant strength and rise beyond $1.5. During the second half of 2023, the price may surge beyond $1.75 in Q3 and close the yearly trade beyond $2. The price may also mark the highs above $2.2 in an extended bullish case.

Kadena Price Prediction for 2024

With a bullish close for the year 2023, the KDA price is believed to have continued with a notable upswing since the beginning of 2024. The rising momentum is believed to transform into a bull run wherein the prices could rise by 2x to 5x by the end of the year. Meanwhile, the bears may hardly impact the rally and may jump in only when the bulls are worn out. 

The KDA price may start the 2024 trade at around $2.1 to $2.15 and continue to rise high to end the Q1 trade around $3.5 to $4. The price may surge beyond the 2-digit figure in Q2 2024 and settle around $10.5 by the end. After withstanding a minor bearish pressure, the KDA price may resume with a strong upswing and reach levels around $14.5 to $16.2 by the end of Q3, and by the end of the year 2024, the price may hover around $19.5 to $21.9.

Kadena PRICE PREDICTION 2025-2030

The bullish momentum may continue in the first few months of 2025 as the price may reach  beyond $25 to mark a new ATH close to $30, but by the end, it may fall into a deep bearish well and trade below $20. The descending trend may continue throughout 2026, when the price may find its bottom close to $10 or slightly below. With a notable rebound, the price may begin the 2027 trade with a recovery. 

The price may regain 80% of its losses as the bulls who have accumulated enough strength in 2027 may begin to distribute their strength in 2028. The price may recover the maximum of its losses and by the end of 2028 may begin with a fine upswing. The KDA price could trigger a fine bull run in 2029 that may continue until the first quarter of 2030 and discover new highs. However, in 2030, the price may begin to consolidate and maintain a narrow trend until the end of the year. 

Should you invest in Kadena in 2023? 

The Kadena price commenced the trade with a blast. Despite a hefty price drain, the price recovered well and reached levels close to its highs again. Although the price has been under bearish action at present, a significant upswing could be triggered in the coming days. One can invest in Kadena, but a deep knowledge of the project, its team, and its future vision is an added advantage. Also, before buying or selling KDA or any other token, a fine observation and study of the price trends are imperative.

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