Kava Price Analysis: KAVA looks positive for near future?


  • KAVA/USD pair trading below EMA(20).
  • Kava price analysis is bullish today.
  • 24-hour trading volume for Kava is hovering at $9,702,722.00.
  • KAVA faces resistance at $1.60.

03 October 2022 : In this article we will walk you through Kava price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Kava, Is KAVA a good investment? Kava support & resistance levels etc. But before diving deep into the KAVA technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.34 percent, bringing the entire cryptocurrency market to $936,642,515,083. The total trading volume stands at $53,583,320,840. Bitcoin shares 39.69 percent of the entrie market while Ethereum has a dominance of 16.12%.
which resulted in Bitcoin's price rising to $19,389.79 level after an upward movement of 0.96%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 1.54 percent reaching to $1,317.86 during the previous 24 hours.
While publishing this blog, BNB traded at $287.12, following a price change of 1.38% within the same time frame. XRP the native coin of XRP is down by -1.87 and currently trading at $0.45. Additionally, Cardano reached $0.42 after seeing a decline of -0.04% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Kava Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Kava (KAVA)

KAVA Resistance Levels KAVA Support Levels
Resistance Level 1 $1.60 Support Level 1 $1.44
Resistance Level 2 $1.68 Support Level 2 $1.36
Resistance Level 3 $1.76 Support Level 3 $1.28

Kava Performance

KAVA has recorded a upsurge, gaining 1.37% in last 24 hours. The current value of Kava is hovering at $1.50 with the trading volume of $9,702,722.00 USD in the same timeframe. The overall marketcap for KAVA is $421,291,611.00 USD while the coin price changes 1.49% over the week.

Kava Price Analysis

KAVA price analysis for 03 October 2022 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Kava.

Moving Averages Price Indicator
Simple Moving Average (10) 1.52 Sell
Exponential Moving Average (10) 1.52 Sell
Simple Moving Average (20) 1.52 Sell
Exponential Moving Average (20) 1.52 Sell
Simple Moving Average (50) 1.69 Sell
Exponential Moving Average (50) 1.68 Sell

The relative Strength Index (RSI) indicates that the KAVA coin is in heading towards overbought zone, as RSI is at 55. While KAVA’s Williams %R indicator is at -54.128 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. KAVA has a nearest resistance of $1.60. A bullish breakout in this resistance level would boost the uptrend momentum. The buyers could then target the resistance R2 placed at $1.68. Alternatively, if the investors turn against the Kava (KAVA), the bears might control the market and take KAVA price below the crucial support level of $1.44. The MACD line is standing above of the signal line after a positive crossover. Kava investors need to wait for any directional change over the daily chart.

Conclusions

According to our technical analysis data, the short-term forecast for the Kava price is mostly bullish at the time of writing. The cryptocurrency Kava seems to be on the rise again. A significant return-on-investment (ROI) is predicted if you acquired the currency some time back.