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- 1 The KAVA crypto asset is displaying bullish behavior as MACD has shown a bullish crossover with a rising histogram.
- 2 The KAVA crypto is experiencing a surge of 0.60% in the last 24 hours, and the asset is trading at $0.7415.
The price structure of KAVA crypto shows that the price rose from $0.5500 to $0.9500 and maintained its price in the parallel upward wedge. The KAVA fell from the supply level and it slumped heavily up to $0.6660.
However, the KAVA crypto has revealed a sign of recovery as the price rallied from the crucial level of around $0.6660 on the chart.
Now, it seems like the KAVA crypto is set for a colossal surge, as it gears up to crack the resistance level and rocket to new peaks from the current support zone.
The KAVA crypto asset is exhibiting bullish strength and rising capacity as it holds above the major support level of $0.6660 and has crossed the 20-Day EMA and in continuation is approaching the major 50-Day EMA.
Furthermore, the KAVA crypto asset is displaying bullish behavior as MACD has shown a bullish crossover with a rising histogram. Where the histogram value is at 0.0059, MACD is at -0.0209 and the signal line is at -0.0268.
The RSI is at 49 and since it is not near the 70 level yet, it is approaching the overbought level. This shows that the KAVA asset is not facing much resistance and crypto price can extend its gains.
On the overall analysis of the price movement, the KAVA crypto asset is showing bullish signs and is indicating the potential to grow further. It performed well last week and quarter by +10.35% and +8.88% respectively, indicating a possible strong uptrend.
At press time, the KAVA crypto is experiencing a surge of 0.60% in the last 24 hours, and the asset is trading at $0.7415.
Therefore, if the demand for the KAVA remains high, the crypto price could spike upward more and could rise to retest the supply region as well. Then the next goal for the price could be to reach $0.8283.
However, if the KAVA crypto price fails to stay above the $0.6660 level, it could plummet further.
Summary
The KAVA crypto price has bounced back from a low of $0.6660 and is aiming for $0.8283. The technical indicators show bullish momentum and strong performance. The crypto price can increase further if the demand stays high. However, if the price drops below the support level, it could fall sharply.
Technical Levels
Support Levels: $0.6660
Resistance Levels: $0.8283
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.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
