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Kava Crypto staged a comeback after buyers successfully defended the $0.66 level and the price bottomed out leading to a short covering.
The Kava crypto extended the rise for the 5th consecutive session on Friday. The KAVA/USD pair staged a comeback from the monthly low value and $0.66 level and is headed towards the recent swing high value of $0.95.
The recent price rise shows the domination of bulls over the short term trend. The crypto is headed higher to book its fourth weekly gain. Moreover, the crypto has benefited from the positive sentiment in the overall crypto market.
The market leaders Bitcoin and Ethereum both are rising continuously near their record highs which is driving the whole market on the higher side. BTC is hovering near the $60k mark and ETH was trading close to $3,422 at press time.
Kava Crypto Long Term Trend Analysis
The long term outlook lies on the neutral to positive side above the dynamic support of the 200-Day exponential moving average. The price performance shows that the crypto has surged nearly 12% in the past week and nearly 18% in the current month.
The short term trend outlook lies on the bullish side as the price is forming higher lows.
Kava Crypto Indicator Analysis
From a Technical perspective, Kava crypto hovers above the 20 and 50 Day EMAs suggesting a positive outlook in the short term. Also, the price is moving comfortably higher than the 200-Day EMA, indicating a positive trend prevailing in the long term.
At the time of writing, the RSI line was placed at 75.34 points and that of the SMA line was at 64.55 points suggesting a positive trend prevailing in the short term. Also, the RSI line has entered an overbought region suggesting a correction pending in the crypto.
Kava Price Prediction March 2024
On the higher side, the price has more room to hover till the previous swing high till the $0.95 level. The most bullish price prediction of analysts hope for the price to retrace the $1 level on the higher side.
The bearish view of analysts hope for the price to break below the $0.8 level below which more downside move may be observed till the $0.7 and $0.6 levels.
Kava Crypto Price Prediction 2024
The price forecast for the year 2024 is that the KAVA token price could reach a high of $1.45, suggesting a potential gain of over 68.8% if the most positive conditions prevail. Moreover, the negative outlook of the analysts is that the price could reach $1.177.
Kava Price Prediction 2025
By 2025, the Kava price may attain $2.21 on the higher side. On the flip side, the minimum price up to which the crypto price may rise by the year 2025 is $1.62.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
