- KAVA is near to claim the horizons of buying and bringing prospects.
- Bulls are looking aggressive in the recent showing their strength.
KAVA token looks bullish on the daily charts and shows strength over the daily time frame. Bulls are showing dominance and registering the trendline breakout above $1.050. The price action shows that bears are trapped, and a short covering on the charts is shown. Moreover, the daily candlestick formed on the charts indicates the strength and is close above the previous neckline of $1.05
KAVA token forms a symmetrical triangle pattern where bulls are likely to dominate on the upper side, and bears weaken their momentum.
When writing, KAVA is trading at $1.05 with an intraday gain of 3.10%, showing the bulls strength and maintaining the gains with leading on the front. Moreover, the trading volume also indicates an increase of 18% upside showing the interest of investors is now at a peak.
However, it was shown that, in the last weeks, sellers tried to break the support of $0.760 and were willing to break the lower trendline but failed. Then the double bottom pattern formed, and the token showed a bounceback by adding longs by fresh buying. Then token continued to surge, and buyers accumulated the token.
Daily Charts Shows Bulls Dominance
On the daily charts, the KAVA token is near to witnessing a breakout and willing to show off the bullish marks. Moreover, the recent price action indicates that the token retested the mark of $0.780 and got energised after its take an interval on the demand zone. Soon after the bulls got charged, the muscles charged and flipped the trend cycle. However, the KAVA token trades above the 20, 50 and 100 days EMA but faces resistance on the 200-day EMA.
Short Term Chart Behaviour
On the 4-hour charts, the KAVA token is trading above the juncture of $1.00 and flourishing with the gains. Moreover, the technical parameters suggest the same in favour of bulls indicating further trend expansion.
The traditional leading indicator RSI ( Relative Strength Index ) showed that the curve floated near the overbought zone, and a positive crossover was noted on the charts. However, the recent pace of action delivers a positive outlook for the future rise of the KAVA token.
The MACD indicator was also noted with a bullish crossover and delivered similar buying cues as RSI already gave earlier. The green bars continue to form on the histogram.
Conclusion:
KAVA token is also delivering bullish cues with getting conviction from other leading and lagging indicators.
Technical Levels
Support Levels: $0.800
Resistance Levels:$1.100
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 assets comes with a risk of financial loss.