Kadena (KDA) has been on a slow and steady rise this week, with the market cap surging by almost $30 million in the last 24 hours. With over 60% of its weekly volume traded over the past seven days, there is no sign that traders are losing interest in KDA.
The enormous bull run that pushed Bitcoin to over $70,000 per coin began in late 2020 and continued throughout 2021, propelling both the world’s first cryptocurrency and the broader altcoin market to unprecedented heights. With being stated, 2021 had its high points as well as its low points, with prices being slashed in half at one time before the bulls returned.
The crypto business is recovering again as the year draws to a conclusion, albeit it still has a long way to go from the losses it suffered earlier. But, if currencies like Kadena (KDA) are any indicator, the crypto industry might be well on its way to reclaiming its previous glory.
Price history of Kadena
Kadena is a cryptocurrency concept that debuted in early June 2020. The project’s price was $0.33 at the time of its introduction, and it increased to $0.4 nearly immediately. Following that, the price remained stable for the first month after debut, but when July rolled around, it plummeted to $0.27, where it remained for another month. As the crypto bull market began to take shape in August 2020, the currency unexpectedly surged to a resistance level of $0.8.
The price was refused to $0.6 since this was a strong obstacle at the time, only to attempt again in late August and be rejected again. Following that, it plummeted all the way to $0.20, ultimately breaking through and remaining exactly beneath the support. From late October to late January 2021, the KDA price failed to break beyond $0.20, which has now become a barrier. In February 2021, it was able to reclaim the top spot, and it proceeded to advance rapidly.
In reality, by mid-April 2021, the price of KDA had risen to $1.8, before plummeting to $1. From here, KDA soared once more, hitting $1.4, only to be slammed so hard that it fell back under $0.4, which had now become a resistance level.
From mid-June to early August, the price stayed below $0.4, until another boom erupted, sending it higher than it had ever been.
KDA makes an ATH, which has severe ramifications.
Kadena’s price began to rise in August 2021, and it continued to rise swiftly and steadily. Along the way, it ran into some opposition, first at $0.85, then at $1.8, then at $2.2, and finally at $7.5. None of them, however, were able to halt it for long, and the price climbed to an all-time high of $24.16.
It peaked at this level on November 11th, and then immediately began to decline. This occurred at the same time as the worldwide crypto price correction, and the market as a whole lost a significant amount of value.
Kadena’s price dropped below a support level of $10, where it stayed for the most of December. Things began to alter a week ago, and on December 20th, the KAD price began to rise again, and it hasn’t stopped since. Its price is now $16 following a 22 percent gain in the previous 24 hours, while the project’s price has climbed by more than 60% on a weekly basis.
While the currency still has a long way to go before reaching its previous high, it is not impossible to accomplish so if the rally continues unabated over the next several days.