Home
News
- KAVA crypto is consolidating in a narrow trading range.
- Recent price drop brings opportunity for bulls as KAVA price stays above 20-EMA in 4 hour chart.
- KAVA/BTC pair value is down 2.5% at 0.00007874 Satoshis.
The current price drop in KAVA coin keeps it below the critical support level of $1.6. Bulls are currently attempting to boost asset prices over the $1.6 level, which has become an urgent bullish obstacle.
The KAVA Crypto is demonstrating a unidirectional trend after falling below the $1.6 hedge zone, with the asset values fluctuating inside a box pattern (white). This box pattern is struggling to hold the asset price in check, thus bulls and bears are fighting for directional strength. As a result, cryptocurrency registers pump and dump transactions.
The KAVA crypto is living below a bearish trend line and a bullish trend line on the 4-hours price scale. This price pattern forms a unidirectional trend. But, the recent price drop has brought opportunities for the bulls as the Kava crypto reaches the 20-EMA. Below this support level, if buyers fail to keep the price above the support, the price may revisit the support level.
Buyers today again witnessed a drop in prices as KAVA crypto moved higher last night. Meanwhile, the price is trading with a 3.6% intraday loss against the USDT pair with a mark of $1.52. Moreover, the KAVA/BTC pair is down by 2.5% at 0.00007874 Satoshis.
20-EMA Interrupt Recovery
On the daily chart, the 20-day exponential moving average was a red zone of volatility and now Kava Crypto is remaining in this zone. Similarly, MACD is looking flat in the negative zone.
Besides, the daily RSI indicator is retesting the semi-line (50 level) after reversing from the oversold zone. This bullish signal may help buyers break the recent bullish barrier.
conclusion
The KAVA crypto has been failing on the 20-day exponential moving average since mid-August. At that point, buyers again attempted to break through this bullish barrier and the RSI supported buyers’ dominance. However, the altcoin fluctuates in a box pattern.
Resistance level- $1.6 and $2.3
Support level- $1.4 and $1.0
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.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
