/ Discover the sudden surge of Kadena (KDA) in the crypto market! Explore the reasons behind its +61.20% rally and what lies ahead at $1.30 resistance.
Author: Nilesh Hembade.
Date: 24 Dec 2023, 22:50 PM IST
Kadena (KDA) has made a comeback today in the cryptocurrency market with its sudden surge. The KDA token price has been up by an impressive +61.20%, from $0.80 to $1.30 in the last 24 hours, with a market cap of $328 million. while the trading volume spiked by 1035.17% today.
Kadena is a proof-of-work blockchain that combines the PoW consensus mechanism from Bitcoin with directed acyclic graph (DAG) principles to offer a scalable version of Bitcoin.
Reason Behind the Surge of Kadena (KDA)
The primary reason that driving this surge is the breakthrough of the KDA token beyond its resistance level at $0.809. Following this breakout, the price of Kadena (KDA) surged by an impressive +60% in a matter of minutes, catching the attention of traders.
What’s Next for Kadena (KDA)?
As of now, the KDA token is actively trading at $1.30, situated within a resistance zone ranging from $1.30 to $1.37.
The crucial question on everyone’s mind is whether KDA can successfully overcome this resistance level. If accomplished, we can anticipate another substantial gain of +60% for KDA, potentially reaching the next resistance level at $2.23.