KDA coin price fails to surpass the sellers at the 200-day EMA and retraces to the $5.75 support. Will the trendline influence bring another fallout? Key technical points: The KDA price trends lower under the influence of a descending trendline The RSI slope crosses below the central line. The 24-hour trading volume in the Kadena token is $46 Million, indicating an 11% fall.  Past Performance of KDA KDA coin price shows a reversal from the $5.75 support level and rises higher to the highly bearish resistance trendline. However, the increased selling pressure along the trendline and the 200-day EMA crushes the bullish attempt resulting in a 15% downfall within 48 hours.  Source-Tradingview KDA Technical Analysis  KDA coin price retraces to $5.75 after the rejection from the $7.70 mark as the selling pressure increases. Hence, the altcoin brings a selling opportunity at the current prices.  The falling 50-day EMA crosses below the 200-day EMA as sellers reject another bullish attempt. Moreover, the crossover of 100 and 200-day EMA may shortly follow the death cross in the KDA/USD chart.  The Stochastic RSI indicator shows the end of the bull cycle as the K line crosses below the D line. Hence, the diving lines indicate the increasing chances of downfall below the $5.75 mark. The RSI indicator slope fails to sustain above the 50% mark and returns to the 14-day average. However, the uptrend in the RSI slope continues with the 14-day SMA. Hence, the indicator reflects the possibility of a reversal. In a nutshell, KDA technical analysis projects a bearish bias as the rejection from the 200-day EMA gains momentum. Upcoming Trend KDA coin price action brings a selling opportunity with the rejection from the death cross. Hence, a higher price rejection can be seen in the currently making bullish candle. Moreover, the fallout of $5.75 can result in a 25% discount. Conversely, if bulls regain trend control with a reversal from $5.75, the altcoin would rally higher and retest the trendline.  Support Levels: $5.75 and $4.35 Resistance Levels: $7 and $7.75  

The post KDA Technical Analysis: Deathcross Increases Bearish Influence  appeared first on Cryptoknowmics-Crypto News and Media Platform.

The ENJ coin price breaks above the long-coming falling wedge pattern resulting in an overnight trend reversal, aiming to break above the $2 mark. Co-founder of Enjin, Witek Radomski authored the code to create one of the very first Non-fungible Tokens (NFTs) in the world. He is the co-author of the ERC-1155 Ethereum token standard. Based on an on-chain platform and a blockchain infrastructure, the Enjin ecosystem allows businesses and game developers regardless of size to make use of tokenized digital assets in the course of their engagement, acquisition, retention, and strategies for monetization. The Enjin ecosystem is powered through Enjin Coin, an e-currency used to support the worth of blockchain-based assets. Let us move ahead to read about ENJ technical analysis. Past Performance of ENJ The ENJ coin price action makes a follow-through candle of the morning star pattern made slightly below the resistance trendline of the falling wedge. The morning star and the follow-through candles result in a price jump of over 15%. Thus, resulting in the breakout of the falling wedge pattern in the daily chart.  ENJ/USD Daily Chart ENJ Technical Analysis The ENJ coin price action breaks above the long-coming falling channel pattern in the daily chart. Therefore, traders can expect the post-breakout rally to break above the $2 psychological mark. The crucial Exponential Moving Averages (50 and 200-day) showcase a death cross in the daily chart as the EMAs maintain a falling trend. However, the price jump may shortly reverse the trend in EMAs.  The RSI indicator indicates that the slope is increasing over that 14 day-SMA as well as the centerline of the daily chart. The increase is after the bullish divergence that is seen within the band. So, a continuation in the bullish direction could be likely. The Stochastic RSI indicator shows the K and D line undermining the previous bearish crossover as the K line gives a bullish crossover with the D line. The lines remain in the overbought zone reflecting a boom in underlying bullishness.  In a nutshell, the technical indicators represent the bulls taking over the ENJ price trend with the falling wedge breakout. Therefore, traders can expect a pst-retest rally. Upcoming Trend The ENJ technical analysis shows the coin price action demonstrating a bullish breakout of the falling wedge pattern in the daily chart. However, the price is yet to retest the breakout, that is why a reversal in the upcoming days is possible.  Buyers at the current price can expect a target above the $2 mark, close to the $2.15 horizontal level. However, the bearish influence by the death cross can result in a retest prior to the bullish rally.

The post ENJ Technical Analysis: Wedge Breakout Unleashes Trapped Bullishness  appeared first on Cryptoknowmics-Crypto News and Media Platform.

Although Ripple is still battling with the U.S Securities and Exchange Commission (SEC) to reach a conclusion on the outcome of XRP in...

Bearing.ai emerged from stealth today to launch AI-powered software that provides predictions to the maritime shipping industry and tanker boat captains. The idea...

SnapEx is a relatively new crypto derivatives exchange that offers leveraged trading. They have recently been expanding to a number of new markets. They...