KAVA Technical Analysis in a Weekly Timeframe

18 באוג׳

Hello everyone, I’m Cryptorphic.
I’ve been sharing insightful charts and analysis for the past seven years.

Follow me for:
~ Unbiased analyses on trending altcoins.
~ Identifying altcoins with 10x-50x potential.
~ Futures trade setups.
~ Daily updates on Bitcoin and Ethereum.
~ High time frame (HTF) market bottom and top calls.
~ Short-term market movements.
~ Charts supported by critical fundamentals.

Now, let’s dive into this chart analysis:

Since August 2021, KAVA has been in a downtrend and is now close to an all-time low. There has been no significant growth, and the current price range seems to be a dead end.

If KAVA doesn't manage to recover, we could see a new all-time low and a price discovery phase toward the downside.

In my opinion, KAVA should respect this ATL support, rebound by breaking above the resistance trendline, and start a bullish rally. The RSI is in the oversold zone, indicating a potential bullish move.

Key levels:

- Important Support/Accumulation: $0.2403
- Primary Resistance: $0.558
- Long-term Target: 10x-20x

DYOR, NFA

Please hit the like button to support my content and share your thoughts in the comment section. Feel free to request any chart analysis you’d like to see!

Thank you!

#PEACE