- An uptrend movement has returned to the market, bulls’ efforts are paying off and the good time for investors begins.
- The crypto asset is moving above the 20, 50, 100, and 200 daily moving average.
- The KAVA/BTC pair is at 0.00009885 BTC with a gain of 5.15% in it.
Kava is a Layer-1 blockchain that combines the speed and interoperability of Cosmos with the developer power of Ethereum. The Kava Network utilizes a developer-optimized co-chain architecture that delivers the development power of Ethereum and the scalability, interoperability and low transaction fees of Cosmos in a single network
The KAVA price after a long struggle is now moving on an uptrend movement over the daily chart. This shows that after a long fight between bulls and bears, the bulls established dominance over the market. Along with KAVA the rest of the market is also influenced by this bullish rally. The token needs to recover at a faster rate as the investors are facing huge losses and that too before the bearish dominance returns. The price is trading significantly above the moving average.
The current price for KAVA token is moving at 2.01 USD with a gain of 2.63% in its market capitalization in the last 24 hrs. The token has a trading volume of 62 million which is currently at a gain of 3.91% in the 24 hrs trading session and a market cap of 435 million. The volume market cap ratio is 0.1391.
Short-term Analysis
While analyzing the graph for a short term (4 hrs) we can observe the waves of uptrend movement same as the daily graph. Here the EMA ribbon shows the successful reversal of the trend by the KAVA bulls.
The volume is moving just below the average, whereas the MACD indicator indicates a bullish movement as the MACD and MACD signal line just witnessed a positive crossover along with the green histogram rising. In support, the relative strength index is also indicating an increase in buying volume and the RSI is just about to make a breakout of the overbought mark. The RSI value is above 65.
Conclusion
The KAVA price after a long struggle is now moving on an uptrend movement over the daily and hourly chart. The token needs to recover at a faster rate as the investors are facing huge losses and that too before the bearish dominance returns. The volume has gained just 3.9% but the technical indicators indicate a bullish rally as the buyers are getting attracted towards the token.
Technical levels
Resistance levels: $2.32 and $2.88
Support levels: $1.74 and $1.38
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
