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- 1 KAVA price prediction says bullish momentum in the crypto will continue in 2024.
- 2 Kava price trades below the 50-Day EMA and is likely to break out of the 200-Day EMA on the daily time frame.
- 3 KAVA crypto price is trading near the support level of $06810
KAVA price prediction says that sellers will dominate and the negative momentum will continue in Feb 2024. Kava performance was not good throughout the year as it gave a negative return of 30.62 over last year. It shows the bears are dominating the trend.
Moreover, KAVA price has dropped below the key EMAs, lowering the confidence of the investors. The price is heading in the downward direction, making lower low structure.
At the same time, the buying volume in Kava crypto decreased in recent times, highlighting weakness in the price and the increased seller activity. The recent downside moves in the KAVA price looks powerful and is supported by bears.
At present, Kava crypto price is struggling to break the key EMAs. If buyers succeed, then the positional trend will also reverse in the upward direction and increase the probability of smashing the key EMAs.
Currently, KAVA price is trading at $0.7240 with a 3.03% increase. The 24-hour trading volume is 15.39 Million.
KAVA Crypto Price Technical Analysis
KAVA price prediction stays bearish for Feb 2024 and suggests that it may further downside moves in the coming days.
Kava price is trading below the dynamic support as the buyers are facing the selling pressure from the higher levels. It shows that bears are more active as compared to bulls. So, investors and traders may look for a proper setup before any further move.
If the KAVA price continues to fall for a few more weeks, then, it will reach new lows which will increase the possibility of the breakdown of the $0.5728 level.
The analysis suggests that KAVA is in sellers’ radar and one may see further drop in price in the next few sessions. Kava price faced multiple rejection from the uppper trendline showing that the sellers are dominating the buyers.
Summary
KAVA price prediction favors the bears and indicates bearishness possible in the coming months. Kava price is consolidating near the demand zone and buyers are trying to push the price above the 200-Day EMA. The analysis suggests bears are active in Kava crypto and likely to break below the $0.6512 level.
Technical Levels
Resistance Levels: $0.9713 and $0.9019.
Support Levels: $0.6810 and $0.6512.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
