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- 1 The token signifies a neutral outlook and is holding gains on the 200-day EMA mark.
- 2 Buyers are eagerly awaiting for a reversal and persisted in accumulation.
The KAVA token price signifies a rounding top formation and dragged gains from the highs of $0.950, which reveals a selloff in the last sessions. However, the token holds gains above the critical support mark of $0.650, from where a rebound was glimpsed. Additionally, the buyers are keen to register a reversal above the swing hurdle of $0.800, which, if surpassed, a spike toward $0.950 can be anticipated.
The KAVA price has jumped above the key moving averages and is directing a mild negative outlook for the past sessions. Until the $0.8500 mark is breached, fresh buying momentum is not triggered, and the sell-on-rise trend may continue, which leads to panic among investors. Per the Fib retracement levels, the token has sustained above the 23.6% zone but still below the 38.2% zone.
The KAVA token (KAVA) price was $0.7702 at press time, with an intraday drop of 1.67%, showing neutrality on the charts. Moreover, the trading volume increased by 43.27% to $46.75 Million. The pair of KAVA/BTC is at 0.0000151 BTC, and the market cap is $54.10 Million. Analysts are neutral and suggest that the KAVA token price will face volatility and may regain momentum above $0.900 soon.
KAVA Displays Selloff from Highs on Daily Timeframe
On the daily charts, the token price slips below the neutral region and is trying for a bounce to retain the trajectory swing of $0.800. If the token decisively sustained above the 200-day EMA mark, it will be a positive sign, and buyers may succeed in attaining a rebound beyond $0.8000.
The Relative Strength Index (RSI) curve retained the midline of 50, indicating buyers’ accumulation on the charts. Similarly, the MACD indicator shows a bullish crossover and displays neutrality, suggesting that the token might soon retest the upside of $0.8000.
KAVA Exhibits Rejection from 50-day EMA on Weekly TimeFrame
On the weekly charts, the token failed to scratch the 50-day EMA, and a severe rejection was witnessed, which hints the sellers’ dominance. If the trendline support of $0.7000 breaches, the token may slip toward $0.5000 in the following sessions. However, the token must surpass the 50-day EMA for a fresh reversal. However, the token was trading in the bearish trajectory, and if it slips below $0.7500, further selloff may be possible.
Summary
The KAVA token price signifies a selloff from the highs and is attempting a rebound above the key hurdle of $0.8000. Furthermore, the trend is neutral, and the token will continue to face volatility, which might lead to a bounce or selloff soon.
Technical Levels
Support Levels: $0.750 and $0.720
Resistance Levels:$0.850 and $0.900
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.