- Concerning the KAVA token prices, the RSI line has been steadily declining in value.
- The KAVA/BTC pair was trading at 0.000007827 BTC with a loss of 0.3%
- the 24hr trading volume in the KAVA token is $571.1 Million
The bull rally of the KAVA token entered a minor retracement phase after the token reached a new ATH of $9.2. These short pullbacks can be beneficial for trending tokens to continue a strong bull run. The token price has just taken good support from the 0.618 FIB level with a bullish engulfing pattern, suggesting the continuation of the rally.
The EMA’s indicate that the KAVA token is still bullish as the price is above the trend defining 200 EMA. However, the chart shows a bearish crossover of the 20 and 50 EMA, encouraging the coin sellers.
The RSI value is at 44, indicating a bearish emotion in the token. Moreover, the RSI line has shown a significant drop concerning the token’s price action, suggesting the bears are trying to take control of the token.
The KAVA Token Chart In The 4hr Time Frame
After the KAVA token bounced from the 0.618 FIB support, the token price also gave a breakout from the nearest resistance of $5.7. This bullish breakout brings more confirmation for the coin buyers for the bull rally. However, the price still needs to shows good sustainability above the broken level.
The moving average convergence/divergence indicator (BULLISH) shows the signal and MACD lines have just moved above the neutral area (0.00), indicating the bullish sentiment in the coin. The indicator these can soon provide bullish crossover, providing more confirmation for the bullish breakout.
Conclusion: From the technical perspective, the overall trend of the KAVA coin remains bullish, and the chart shows a good possibility of continuing its rally. As mentioned above, the price has breached its first barrier of $5.7, which can provide a good entry opportunity for Crypto traders.
Support; $5.7
Resistance: $6.5