•KAVA/USD is currently priced at $0.92 and has increased by 2.42% over the past day
•The trading volumes have decreased by 17.35% over the past day
•The technical indicators suggest a positive outlook for the near term
Short Term View: Kava bulls go under the radar
The Kava price today is $0.925886 USD with a 24-hour trading volume of $16,592,806 USD. Kava is up 2.42% in the last 24 hours. The trading volumes have decreased over the past day whereas the Volume to Market Cap Ratio stands at 0.05311 for the altcoin.
Kava is in a period of accumulation over the past few weeks after it underwent a period of heavy trials and tribulations. The asset has gathered up momentum which has pushed the Kava price above the 20,50 SMA on the four hour chart. The continuation of the uptrend will drive the prices higher towards the $1 mark in coming days. The support level placed at $0.85 will be a cause of concern for the altcoin as the bulls will need to defend the critical juncture with gusto.
Long Term View for Kava price
The RSI for Kava is currently transacting at 44.54 and is edging closer to the halfway mark in a marked improvement upon the past few weeks. The green histograms are continually gaining traction on the daily chart whereas the MACD and signal lines are also picking up pace in recent days. The move of the MACD and signal lines into the positive territory will mark the bulls out as the dominant presence in the market.
Conclusion
The Kava bulls have breathed a new sigh of relief in the altcoin as the asset has been able to ward off the bears. The positive outlook is supported by the technical indicators which is positive news for Kava investors.
Support: $0.85
Resistance: $1
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.
