- KAVA Price prediction will turn bullish if price sustains above $1.00.
- KAVA price rejects the 200 day EMA and also dropped below the 50 day EMA.
- The KAVA price is approaching the yearly demand zone.
KAVA Price prediction will turn bullish when price sustains above $1.00. Else, it is expected to trade with bearish bias. It is slipping down by forming lower low swings and likely to test the yearly lows. The 200 day EMA sloping downward and price trading below both the EMAs showcase trend is in downward direction.
It has not performed well in the past few months and seems to be consolidating in a wide range between $0.500 to $1.200. The trading volume is also in a declining phase shows less participants are active at lower levels.
KAVA price is trading at $0.686 with an intraday decline of -5.51%. The 24 hour volume to market cap ratio is 0.724. The pair of KAVA/BTC is trading at 0.00002451 with an intraday decline of -4.11%. The chart structure of KAVA with the BTC pair is in a strong downtrend and hitting the fresh yearly lows. It indicates sellers are more active in the KAVA/BTC pair as compared to USDT pair.
At the mid of March, KAVA price gained momentum and attempted to break the swing high hurdle at $1.200. Sadly, the attempt failed and prices formed a long tail bearish candle in the supply zone. Later, prices began to decline by forming lower lows and eroded the previous gains.
Will KAVA Price hold the $0.500 yearly support?
KAVA price downfall halted near $0.800 and began to consolidate in a narrow range for the base formation. Recently, the crypto expanded downside and bears might pull the price down to yearly low. If the buyers succeed to defend the $0.500 support then short term relief rally is possible in the coming months.
However, if the sell off continues and prices drop below the $0.500 support then bears may try to drag it further down. On the other hand if KAVA price managed to climb above the $1.00 level then it can be interpreted as a bullish trend reversal.
The technical analysis suggests, KAVA price is in downtrend and no signs of recovery is visible. However, price is near to yearly lows and responsive buyers might try to defend the support and reverse the trend.
KAVA price on weekly timeframe
KAVA price is forming a bearish candle on a weekly time frame and dropped below the previous week low. It shows the sellers dominance on the higher levels. If the overall market sentiment improves then it may positively impact the prices of KAVA and other altcoins.
The technical indicators like MACD had generated a negative crossover and histogram bar is on decline. It indicates bearish momentum might continue for some more time. The RSI at 32 is near to the oversold territory and may anytime trigger a relief rally from the lower levels.
Conclusion
KAVA price prediction seems to be negative for the short term but it will turn bullish if price regains the $1.00 mark. It is in downtrend and no signs of recovery is visible. However, the price is near to the yearly lows and buyers will try the best to defend the $0.500 support.
Technical levels
Resistance levels : $1.000 and $1.200
Support levels : $0.500 and $0.400
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.