Kadena Ceases All Operations Following Nearly a Decade of Blockchain Development
Kadena's Operational Shutdown: Kadena has ceased all business operations and active development of its blockchain, citing ongoing market challenges. The organization will leave the network to the community, with a small internal team managing the transition.
Impact on KDA Token: Following the shutdown announcement, the KDA token plummeted over 60% in value, trading at approximately $0.0872, down more than 99% from its peak in 2021. Trading volume surged as holders rushed to sell.
Community Response and Confirmation: Initial confusion regarding the shutdown led many to suspect a hack of Kadena's official account. However, the announcement was confirmed through their Discord server, garnering significant attention and concern within the community.
Future of the Network: Despite the shutdown, Kadena's blockchain will continue to operate through miners and nodes, with plans for community governance discussions. The network's future now relies on its decentralized community, as it remains functional without active support from the original team.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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