KDA eyes 100% surge as Binance confirms support for Kadena’s April 30 hard fork
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As Bitcoin holds above $90,000, Kadena (KDA) displays a bullish outlook ahead of a massive protocol upgrade.
With Binance endorsing support for the blockchain’s April 30 hard fork, attention has shifted to a potential falling wedge breakout on the 12-hour price chart.
Will the optimism surrounding the protocol upgrade confirm Kadena’s breakout and fuel the explosive rally?
Binance support boosts investor confidence
The leading exchange has announced that it will back Kadena’s upcoming hard fork.
Binance will suspend withdrawals and deposits temporarily on April 29 to ensure a smooth transition.
The announcement highlighted:
Starting at approximately 2025-04029 23:00 (UTC), Binance will suspend the deposits and withdrawals of tokens on the Kadena (KDA) network to support its network upgrade and hard fork to ensure the best user experience.
Support from a top exchange sends a crucial message to the community.
It confirms that the network upgrade is well-coordinated, significant, and worth investor attention.
Binance’s involvement guarantees users smooth post-fork operations, boosting confidence.
Also, it magnified Kadena’s visibility in the trading world, possibly attracting speculators searching for bullish setups.
Furthermore, the hard fork will introduce various advancements to improve network scalability and efficiency.
That matches Kadena’s long-term vision of powering high-throughput dApps.
KDA price outlook: bullish structure suggests imminent breakout
Kadena’s native coin exhibits a bullish momentum ahead of the upcoming upgrade.
It trades at $0.5211 after gaining more than 5% in the past 24 hours.
The over 30% price increase in the past week has cemented KDA’s bullish structure.
Notably, the altcoin has breached a descending wedge pattern on the 12-hour price chart.
The breakout happened above $0.45, propelling KDA above the psychological mark of $0.50.
Furthermore, it has reclaimed its near-term MAs while recording higher lows, signaling trend reversals.
Bulls are likely targeting the next resistance at $0.60, beyond which KDA might accelerate toward $0.75.
Continued bullishness above this mark would open the doors to $1.10, an approximately 110% increase from current prices.
Kadena’s technical analysis suggests impending explosive moves.
Optimism during the hard fork will possibly confirm the bullish structure and support the projected rally.
Prevailing broad-market sentiments support Kadena’s outlook.
Cryptocurrencies eye continued rallies as Bitcoin holds above the $90,000 psychological mark, trading at $92,400.
Flipping the yearly open into a solid support barrier could trigger a decisive move past $95,000.
That might propel BTC to new ATHs in the upcoming sessions, sparking solid rallies in the altcoin market.
Such narratives would support Kadena’s potential rally toward the $1.10 target.
The post KDA eyes 100% surge as Binance confirms support for Kadena’s April 30 hard fork appeared first on Invezz
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