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KAVA is Showing Positivity in Price Action, Can it Reach $1 Mark?

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KAVA is Showing Positivity in Price Action, Can it Reach $1 Mark?
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Kava is a Layer-1 blockchain that combines the best of Cosmos and Ethereum. 

It offers a fast and interoperable platform for developers to build on, powered by its Cosmos EVM technology that enables high scalability, speed, security, and developer support.

Developers on Kava can earn a portion of Kava Rise’s $750M developer incentive fund through the program’s blockchain-based distribution method, which rewards the top protocols every month based on usage.

Kava prioritizes security and decentralization. The Kava blockchain ecosystem is supported by over 100 application protocol teams (and growing), and over 100 infrastructure teams.

The Kava ecosystem is backed by multiple independent international Foundations that allocate protocol-level funding to grantees with the goal of supporting the health and continued development of decentralized networks and systems.

Kava is built on Cosmos, and uses a Tendermint-based proof-of-stake (POS) consensus mechanism to ensure the network’s integrity.This uses a network of validator nodes to confirm transactions. These validator nodes must stake collateral to take up the role of validating transactions. 

If validators misbehave or fail to meet strict minimum requirements, their stake will be penalized — thereby incentivizing validators to stay honest and efficient.

Kava holders can run a staking node and receive KAVA rewards directly from the authority. However, only the top 100 Kava nodes (also called validators) receive these rewards. 

Alternatively, KAVA holders can share their tokens on various exchanges such as Binance, Kraken, Huobi Pool and wallets such as Trust Wallet, Cosmostation Wallet and Keplr.

Kava’s smart contracts have been audited by multiple independent blockchain and crypto security firms, such as CertiK, B-Harvest and Quantstamp.

Will KAVA Crypto Defend Recent Gains & Advance More?

KAVA is Showing Positivity in Price Action, Can it Reach $1 Mark?
Source: KAVA/USD: KRAKEN.1.D by TradingView

The KAVA crypto is trading with an intraday surge of 3.65% in the last 24 hours, trading at $0.84. The KAVA crypto Token has revealed a sign of recovery as the price rallied from a crucial level of around $0.70 on the charts

The KAVA crypto is ready for a sensational surge, as it unleashes potential to topple the resistance level and soar to new zeniths from the current base zone.

However, if the demand for the KAVA token remains high, the asset price could bounce back from the current level. The next goal for the KAVA price is to reach $0.90.

KAVA is Showing Positivity in Price Action, Can it Reach $1 Mark?
Source: KAVA/USD: KRAKEN.1.D by TradingView

The asset is exhibiting bullish characteristics and could continue to rise. It has delivered good results last week, last month, and even over the three months, by 26.14%, 13.04%, and 10.52% respectively, signifying a solid upward momentum.

The KAVA crypto asset is displaying bullish strength as it sustains above major EMAs.

KAVA is Showing Positivity in Price Action, Can it Reach $1 Mark?
Source: KAVA/USD: KRAKEN.1.D by TradingView

The KAVA asset is in a strong uptrend and the RSI shows no signs of overbought conditions, suggesting that the asset has more room to grow. However, if the KAVA crypto price fails to stay above the $0.70 level, it could decline further.

Summary

The KAVA crypto is ready for a sensational surge, as it unleashes potential to topple the resistance level and soar to new zeniths from the current base zone. The price action of KAVA highlights a bullish structure. Moreover, if the demand for the KAVA Token remains high, the asset price could bounce back from the current level. The next goal for the KAVA price is to reach $0.90.

Technical Levels

Support Levels: $0.70

Resistance Levels: $0.90

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

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