- 1 KAVA price prediction suggests the token may consolidate for some time before regaining the momentum.
- 2 The 50-day EMA in Kava crypto acts as a strong support.
- 3 Kava price struggles to break the August 2023 high.
KAVA price prediction suggests that the crypto may consolidate in December and may show the next directional move in 2024. It has performed well in the last month and showed a surprising recovery from the low.
The short-term as well as positional trend has reversed upward and the price has sustained above the 50-day EMA. It showed that the recent upmove has strength and big players are bullish for Kava’s future.
While recovering, the buying volume in the KAVA crypto increased rapidly which boosted the confidence of the long-term investors. The price also got positively impacted and hit a swing high of $0.0865.
In mid-November, the bullish momentum in the Kava token halted near the August high and the price witnessed a minor sell-off. It retraced back to the 50-day EMA and bears tried to drag the price below the $0.700 level.
Luckily, the buyers are active and they succeed in defending the support and show bounce. Currently, KAVA price is trading at $0.775 with a one-day decrease of 2.76%. In the last 24 hours, the volume to market cap recorded is 2.71%.
When will the KAVA Price Begin the Next Phase of Rally?
KAVA price prediction favors the bulls and suggests that buyers will dominate and lead the rally. The previous hurdles are broken and it has now turned out as a support.
The presence of buyers near the $0.700 level shows that bulls have full control over it. So, the minor sell-off will be easily absorbed and may be bought up.
On the higher side, $0.865 is acting as an immediate barrier for the bulls. If buyers come together and succeed in breaking out of the $0.865 hurdle, then the next phase of the rally might trigger.
The analysis suggests that bulls look more aggressive so the possibility of a breakout remains high.
Is KAVA Price Bullish on the Weekly Chart?
Kava crypto price displayed a bullish hammer candle on the weekly chart. But buyers need to break out of the $1.075 hurdle to turn the chart pattern bullish on a weekly time frame.
By analyzing the price pattern on a daily and weekly time frame, one can conclude that KAVA is bullish on a daily timeframe but mildly bearish on a weekly timeframe.
The MACD curve slopes sideways indicating bulls lost the momentum. So, consolidation is possible.
The supertrend says that till the price sustains above $0.661, the trend will remain upward. The RSI at 53 near the neutral zone denotes an equal level of tug-of-war between buyers and sellers.
KAVA price prediction suggests the token may consolidate in December but is likely to trade with a bullish bias. The next phase of the rally will trigger when buyers succeed in breaking out of the $0.865 level. Moreover, the analysis suggests Kava crypto is at attractive levels so investors may consider it for long-term investment.
- Resistance levels: $0.865 and $1.075
- Support levels: $0.650 and $0.555
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.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.