Market Overview: Kadena/Bitcoin (KDABTC) 24-Hour Technical Summary

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• Price declined from 2.97e-06 to 2.87e-06, forming a bearish trend with several lower lows.
• Volatility remained subdued with a narrow Bollinger Band contraction during midday.
• RSI moved into oversold territory, hinting at potential short-term bounce.
• Volume spiked during the early evening ET, confirming bearish momentum.

Kadena/Bitcoin (KDABTC) opened at 2.96e-06 on 2025-10-05 at 12:00 ET and closed at 2.92e-06 on 2025-10-06 at 12:00 ET, reaching a high of 2.97e-06 and a low of 2.86e-06. Total volume amounted to 29,828.37, while notional turnover stood at approximately 89.29. The 24-hour session reflected a bearish bias, with sellers dominating especially in the late evening hours.

The structure of the 24-hour candlestick pattern displayed a series of lower highs and lower lows, with two notable bearish engulfing patterns forming after a midday consolidation period. Key support was observed around 2.88e-06 and 2.87e-06, where price briefly rebounded. A potential resistance level appears at 2.91e-06, where the price showed reluctance to break above for an extended period. No strong reversal doji patterns emerged, suggesting the bearish trend may persist.

The 20-period and 50-period moving averages on the 15-minute chart remained bearishly aligned, with price action printing below both. A bearish crossover in the MACD confirmed the downward momentum, and the RSI dipped below 30, indicating oversold conditions. Bollinger Bands reflected a contraction during the day, with price remaining in the lower half of the bands, hinting at a lack of volatility and consolidation.

Volume was particularly active during the late evening hours, especially around 17:15–18:45 ET, where large-volume bearish candles confirmed the selloff. However, volume normalized after 20:00 ET, aligning with the consolidation phase. A divergence was noted between price and turnover, with turnover decreasing during the late consolidation, suggesting reduced conviction in the downward move. Fibonacci retracement levels on the 15-minute chart suggest potential support at 2.88e-06 (61.8%) and 2.86e-06 (38.2%) from the recent bearish swing.

Backtest Hypothesis

The provided backtesting strategy could be evaluated by using the 50-period moving average on the 15-minute chart as a trigger for entries and exits. A long bias could be initiated when price closes above the 50-period MA, and a short bias when it closes below. The RSI and MACD signals could serve as filters to confirm the trend’s strength and momentum. For the current setup, a short entry may be considered at 2.88e-06 with a stop above 2.91e-06 and a target near 2.85e-06. This strategy could be backtested over multiple 15-minute timeframes to determine its consistency in capturing the bearish momentum seen in the last 24 hours.