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- KAVA price remained well above the latest yearly low.
- All important moving averages remain above the current price of KAVA.
- The trading volume fell by 28% to $18.8 million in the last 24 hours.
KAVA token price is underperforming since its all-time high at $9.218. After booking profits, this level was never re-tested by the buyers, hence it is an important resistance area. The price action of KAVA token is forming lower-low and lower-high formation in all time frames like weekly and down.
Buyers are seeing a steady selloff, so new investors are wary of taking any long positions in the KAVA token. Also, the crypto market conditions are extreme due to the fall of bitcoin. As a result, buyers saw a yearly low on November 9 at $0.770, which immediately flipped into support.
At press time, KAVA token is trading at $0.867 mark against the USDT pair. For the past several trading sessions, crypto price hovers just above the yearly lower level. So buyers need to maintain this support level to defend themselves from another sell-off. Moreover, the KAVA token concerning the Bitcoin pair is down 1.91% at 0.00005249 Satoshis.
Amid pumps and dumps, KAVA tokens are observing bullish results this week by 5.6%. Nevertheless, the all significant moving averages are remaining above the current price of KAVA in the context of daily price scale. Although, volume shows low volatility, and trading volume lost 28% in the last 24 hours at $18.8 Million.
On the daily price chart, the RSI indicator is slowly drifting above the oversold zone, which is indicating slight upside momentum for the altcoin. Furthermore, the MACD is producing a bullish crossover into the negative zone, and the histogram is making higher highs above the neutral zone.
conclusion
The price of KAVA token is now at a crucial decision level for the bulls. They have the opportunity to raise the coin to the latest conceptual round level of $1.0. Sustainment above this level will provide further price pumps.
Support level – $0.77
Resistance level – $1.0 and $1.6
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 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.
