- KAVA crypto has witnessed good volume activity over the last 24 hours.
- The price of the KAVA crypto is below the 200-day EMA.
The derivatives trading volume for the KAVA crypto has witnessed an advance of 20.9% in the last 24 hours. Following this, the spot volume of the crypto has also advanced by 39.6%.
The open interest in crypto has advanced by 8.35% in the last 24 hours, which has resulted in $15.12 Million. Also, the value of the derivatives traded volume in the previous 24 hours is $27.97 Million.
The value of the spot traded volume for the crypto is $22.967 Million, resulting in a traded volume ranking of #235 per CoinMarketCap. This further results in a volume/market cap ratio of 2.79%. The crypto market cap has further advanced by 4.07% in the last 24 hours.
The long liquidation for the crypto recorded in the last 24 hours is very low, resulting in $939, while the short liquidation for the crypto is worth $5.79K. Also, the long/short ratio of the crypto is 0.9976.
Blockchain Data Overview Of KAVA Crypto
The stablecoin market cap of the KAVA crypto has advanced to $186.96 Million over the last few days. Also, the total value locked for the crypto is $231.79 Million and the recorded inflow of the crypto in the previous 24 hours is $18.9K.
The bridged TVL of the crypto is worth $162.62 Million, and the fully diluted valuation of the crypto is $835.098 Million. Also, the circulating supply of the crypto is 1.082 Billion KAVA, which is similar to its total supply.
Open Interest And Price Comparison Of KAVA Crypto
The open interest in the KAVA crypto has been consistently advancing over the last few days, after which the crypto price has also been rising. It shows investors’ engagement in the crypto price.
KAVA Crypto Technical Analysis
The price of the KAVA crypto was trading inside a rising wedge pattern for a long time but failed to sustain itself at higher levels. The crypto price further witnessed huge profit bookings, breaking below the rising wedge pattern.
The crypto price trades at the breakdown zone and is retracing to similar levels. If it further forms a bearish candlestick pattern, the price might decline to lower levels.
KAVA/USD Chart by TradingView
The price of the KAVA crypto has declined below the 50-day and 200-day EMAs, and the 50-day EMA has also declined towards the lower levels. If the crypto price declines to lower levels, a death cross might be seen on the charts.
The MACD also shows the dominant trend to be negative as the MACD and the signal line are trading below the zero level. The following metrics further recently have formed a bullish cross.
The RSI on the daily crypto chart has declined below the 50-level and is consistently sustaining below the same. It is currently trading at 46.56, and if the RSI further breaks above the 60 level, the crypto trend might reverse.
Summary
Despite recent volume activity, KAVA crypto faces challenges as it trades below key EMAs and within a declining wedge pattern. Profit booking and failure to sustain higher levels indicate a potential further decline, with MACD signaling a negative trend. RSI below 50 suggests continued bearish sentiment, awaiting potential trend reversal confirmation.
Technical Levels:
- Support Levels: $0.560 and $0.660
- Resistance Levels: $0.990 and $1.140
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.