Harmony (ONE) and Kadena (KDA) Showing Potential For Major Breakouts: Are Big Rallies On Horizon?

Date: Fri, Dec 06, 2024, 03:27 PM GMT

The cryptocurrency market continues its bullish trajectory, highlighted by Bitcoin's (BTC) historic milestone of crossing $100,000. Alongside this achievement, altcoins are beginning to shine as BTC dominance recedes, now standing at 55.48%, down from its recent high of 61.53%.

Amid this momentum, Harmony (ONE) and Kadena (KDA) are drawing significant attention due to their strong weekly performances and promising setups for major breakouts.

Source: Coinmarketcap

Harmony (ONE)

Currently trading at $0.034, Harmony (ONE) is sitting within a strong resistance zone of $0.030 to $0.039, a level that has capped the token's price for nearly two years. This range has proven to be a significant barrier, but the sustained accumulation within this zone indicates growing bullish momentum.

If Harmony manages to break out from this resistance, the next target lies at $0.14, representing a potential 360% gain from the current price. With the Relative Strength Index (RSI) showing strong upward momentum, the chances of a breakout appear high. However, traders should watch for volume confirmation to ensure the move is sustainable.

Kadena (KDA)

Kadena is trading at $1.76, near a descending trendline that has limited its price movement for nearly two years. This trendline is a critical resistance level, and breaking above it could signal the start of a new bullish phase.

If KDA successfully surpasses its immediate resistance levels at $2.04 and $2.48, the next major target would be $7.80, a significant 342% increase from its current price. Kadena’s RSI suggests bullish momentum, but a pullback to retest lower support levels around $1.50 could provide a better entry for investors before a confirmed breakout.

Are Big Rallies on the Horizon?

Both Harmony (ONE) and Kadena (KDA) are showing early signs of bullish momentum, with critical resistance levels within striking distance. A confirmed breakout from these levels could open the door to impressive gains, fueled by increased interest in altcoins as Bitcoin’s dominance declines.

For Harmony, breaking the $0.039 level could initiate a rally toward $0.14, while Kadena could see a surge to $7.80 if it clears its $2.48 resistance. With market sentiment on the rise, these assets are worth watching closely.

Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.

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