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- 1 KAVA price prediction is bearish for the short period.
- 2 KAVA crypto price is in a downtrend.
- 3 Kava price is trading near the year-till-date low.
KAVA price prediction is bearish for the short term till it trades below the 200-day EMA. However, the price looks oversold so a temporary pull back rally is possible.
KAVA price is trading below the 50-day EMA showcasing that the trend is in a downward direction. It formed a bearish pattern and declined by forming lower-low candles.
In mid-August, the KAVA price broke down the crucial support of the $0.800 level. It triggers the negative sentiment and invites further downfall.
However, the prices did not collapse much and took support near $0.600. Presently, the prices are consolidating in a narrow range and buyers are trying their best to rebound.
The volatility in the KAVA price is quite low so the speculators are less active. The crypto leaders BTC and ETH prices are also stuck in the range. If the overall crypto market recovers then it may positively impact the prices of KAVA and other altcoins.
KAVA price is trading at $0.615 with an intraday rise of 1.15%. The 24-hour volume to market cap is 1.54%.
Will KAVA Price Take a U-turn From the Lows?
KAVA price is in a strong downtrend and no signs of recovery are visible. Short-term pullbacks are facing difficulty in holding the higher levels. It shows that bears are continuing their dominance.
Till the KAVA crypto price is trading below $0.800, the prices are expected to remain in the bears’ grip. However, if the situation reverses and buyers succeed in breaking the $0.800 hurdle, then the short-term trend may reverse upward and prices might rally toward $1.00.
The analysis suggests KAVA crypto price is bearish and the possibility of taking a U-turn in September remains low.
KAVA Crypto Price Fell for 12 Consecutive Weeks
KAVA crypto price fell for twelve consecutive weeks. It hurts the sentiment of its investors. Fresh buyers look reluctant to build long positions in the fear of further sell-off.
The MACD curve is trading below the zero line but sloping sideways. It indicates prices might spend some more time in consolidation.
The RSI is at 29 near oversold territory so a relief rally may trigger anytime from the lower levels. The prices are trading below the super trend sell line which also denotes weakness.
Conclusion
KAVA price prediction is bearish for the short term. However, the prices look highly oversold so a short squeeze may trigger to clear out previous shorts. The analysis suggests that the KAVA crypto price is bears’ grip and the possibility of taking a sharp U-turn is low.
Technical levels
- Resistance levels: $0.837 and $1.072
- Support levels: $0.600 and $0.500
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.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
