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After starting in late 2020, the massive bull run that took Bitcoin to nearly $70,000 per coin continued in 2021, taking both, the world’s first cryptocurrency and the entire altcoin market to some brand-new heights. With that said, 2021 had its highlights as well as its crashes, and at one point, it even saw the prices get cut in half, before the return of the bulls.
Now as the year is coming to a close, the crypto industry is rallying again, although it still has a long way to go before it can recover from the losses it saw previously. But, if coins like Kadena (KDA) are an indication of what is to come, then the crypto sector might be well on its way to reaching former heights.
Kadena price history
Kadena is a crypto project that was launched in early June 2020. At the time of its launch, the project’s price was at $0.33, and almost immediately, it jumped to $0.4. After that, the price did not change significantly for the first month following launch, but as soon as July arrived, it crashed to $0.27 where it, once again, reminded for a month. In August 2020, as the crypto bull run started to form, the coin suddenly jumped to a resistance at $0.8.
Since this was a rather powerful resistance at the time, the price was rejected to $0.6, only to try another surge in late August, and get rejected again. After this, it dropped all the way down to $0.20, eventually breaking this support, and staying right under it. With $0.20 now a resistance, KDA price struggled to break it from late October until late January 2021. Eventually, it managed to go back above it in February 2021, and it continued to rise rather sharply.
In fact, by mid-April 2021, KDA price skyrocketed to $1.8, before dropping to a support level at $1. From here, KDA surged again, this time reaching $1.4, and being rejected so strongly that it dropped back under $0.4, which now also started acting as a resistance level.
The price remained below $0.4 from mid-June until early August, when another surge suddenly erupted, taking it higher than ever before.
KDA hits an ATH, with major consequences
Starting in August 2021, Kadena’s price started to grow, and it grew sharply and constantly. It did encounter a few resistances along the way, first at $0.85, then at $1.8, and then at $2.2, and $7.5. However, none was strong enough to stop it for too long, until the price skyrocketed all the way to its all-time high at $24.16.
It reached this level on November 11th, and immediately after that, it started going down. This happened at around the same time as the global crypto price correction took place, and the entire market lost quite a bit of value.
Kadena itself fell to a support level at $10, where it remained for most of December. However, things started to change a week ago, and KAD price started surging again on December 20th, and it once again didn’t stop. At the time of writing, its price sits at $16, after a 22% surge in the last 24 hours, while on the weekly basis, the project’s price increased by over 60%.
While the coin has quite a long way to go until it reaches its former ATH, doing so is not impossible, provided that the rally continues without interruptions for the next few days.
To learn more about this token visit our Investing in Kadena guide.