Kadena/Bitcoin Market Overview

• Kadena/Bitcoin (KDABTC) declined by 4.48% over 24 hours, closing at 3.47e-06.
• Volatility expanded midday, with a sharp drop to 3.42e-06 before stabilizing.
• Volume surged in the afternoon, suggesting increased seller participation.
• RSI fell below 30, indicating potential oversold conditions.
• Bollinger Bands widened, pointing to a possible continuation move or consolidation.

Kadena/Bitcoin (KDABTC) opened at 3.6e-06 on 2025-09-13 at 12:00 ET, hit a high of 3.6e-06 and a low of 3.37e-06, and closed at 3.47e-06 as of 12:00 ET on 2025-09-14. Total 24-hour volume was 183,814.39, and notional turnover amounted to 623.11.

Structure & Formations

Over the last 24 hours, KDABTC exhibited a bearish bias, characterized by repeated rejections at the 3.55e-06–3.6e-06 level, which has acted as a short-term resistance. A key bearish engulfing pattern formed around 17:15–17:45 ET, signaling a potential reversal from a bullish to bearish trend. The price found a temporary floor at 3.42e-06 on the 11:45–12:00 ET candle. Notably, a long-legged doji emerged near 11:15–11:30 ET, suggesting indecision. These patterns imply a possible continuation of the downward move unless buyers reassert at critical support levels.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both dipped below the price, reinforcing the bearish bias. The 50-period line crossed below the 20-period line in the midday session, confirming a short-term bearish crossover. On the daily chart, the 50-period MA continues to trend lower, while the 200-period MA acts as a critical support level. The price remains below both the 50 and 100-day MAs, suggesting a broader bearish structure.

MACD & RSI

The MACD line turned negative in the early afternoon and remained below the signal line, indicating weakening bullish momentum. The histogram showed a contraction in the morning, followed by a bearish divergence as price made a higher low while the MACD declined. The RSI dipped below 30 by 14:45 ET and remained in oversold territory for several hours, signaling potential buying interest. However, the lack of a strong rebound suggests that sellers still hold the initiative.

Bollinger Bands

Volatility expanded significantly during the afternoon, with the Bollinger Bands widening to their largest range in 24 hours. Price tested the lower band at 3.42e-06 and bounced slightly, but without a strong reversal pattern or breakout, the move appears to be a bearish continuation rather than a bounce. The narrowing of the bands in the early morning was followed by a sharp expansion, indicating a potential continuation of the downward move.

Volume & Turnover

Volume spiked to over 14,000 during the 08:15–08:30 ET session and again in the 11:45–12:00 ET hour, coinciding with the lowest price points of the day. These surges in volume during price declines reinforce the bearish narrative. Notional turnover also increased in these sessions, confirming that the selling pressure was well-capitalized. However, the lack of a significant volume spike during the attempted bounce to 3.47e-06 suggests weak buying interest.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing from 3.6e-06 to 3.37e-06 shows that the price found support at the 38.2% (3.52e-06) and 61.8% (3.44e-06) levels. The current price of 3.47e-06 is slightly above the 61.8% level, which may offer temporary support. On the daily chart, the 61.8% retracement of the broader move from 3.6e-06 to 3.42e-06 is at 3.52e-06, which could become a key pivot point for near-term direction.

Backtest Hypothesis

A backtesting strategy could involve a short bias triggered when the 20-period MA crosses below the 50-period MA on the 15-minute chart, especially when RSI falls below 30 and price tests a Fibonacci retracement level. A stop-loss could be placed just above the most recent high, with a target near the next key support level. This strategy aligns with today’s price action and technical conditions, offering a potential method to capitalize on the continuation of the bearish trend.