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- Kava was currently at $0.9848 with a decrease of 4.38% during the intraday trading session.
- The pair of KAVA/BTC was around 0.00004245 BTC with a decrease of 3.27%.
- The current price of Cosmos is above 20, 50, and 100-days EMA.
Kava is a Layer-1 blockchain that combines the speed and interoperability of Cosmos with the developer power of Ethereum. A co-chain design that is developer-friendly is used by the Kava Network. Support for EVM smart contracts is enabled by the Ethereum Co-Chain, and the Inter Blockchain Communication Protocol and the blazing-fast Tendermint consensus engine are enabled by the Cosmos Co-Chain (IBC). The Kava Network uses a developer-optimized co-chain architecture to combine Cosmos’ scalability, interoperability, and low transaction fees with Ethereum’s development capabilities in a single network. With the help of the EVM-compatible Ethereum Co-Chain or the Cosmos Co-Chain, developers may build and deploy on any of the two most popular permissionless execution environments in the world using the Kava Network.
The current price of Kava was around $0.9848 with a decrease of 4.38% during the intraday trading session. The 24-hour low of ETC was $0.9757 and the 24-hour high of ETC was $1.04.
Like all other cryptocurrencies 2023 has given a great boost and Kava was rising since the start of 2023. But it looks like Kava is trapped in a stalemate between buyers and sellers since the start of February which is why Kava is consolidating between its demand and supply zone. Now investors should be anxious as Kava can move in any direction. If sellers take control of the market then bears will push Kava to its demand zone and Kava may break its major support of $0.5275 and make a new 52-week low. But if buyers take over the market then bulls will push Kava to reach its supply zone and may even break its major resistance of $1.592 and make a 26-week high.
The volume of the coin has increased by 208.27% in the last 24 hours. The increasing volume indicates that the number of buyers has increased which may bring support to KAVA in reaching its supply zone. The coin’s price is heading above the 20, 50, and 100-Daily Moving averages.
The technical analysis of Kava:
The technical indicators show that the RSI of the Kava is showing a negative crossover in the overbought zone which indicates that sellers are coming in the majority and taking over the market. The current RSI is around 55.07 which is below the average RSI of 61.47.
The MACD and MACD signal are intersecting but not giving a definitive crossover. But the probability is that the crossover will be negative. Investors are eagerly waiting for any movement over the daily price chart.
Conclusion
.Kava is a Layer-1 blockchain that combines the speed and interoperability of Cosmos with the developer power of Ethereum. A co-chain design that is developer-friendly is used by the Kava Network. The current price of Kava was around $0.9848 with a decrease of 4.38% during the intraday trading session. The 24-hour low of ETC was $0.9757 and the 24-hour high of ETC was $1.04. The pair of KAVA/BTC was around 0.00004245 BTC. The volume of the coin has increased by 208.27% in the last 24 hours. The technical indicators show that the RSI of the Kava is showing a negative crossover and The MACD and MACD signals are intersecting but not giving a definitive crossover as per the technical indicators.
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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.
