KAVA is a decentralized coin that uses the developer power of Ethereum. It has developed KAVA Rise which helps developers to launch on KAVA. It has more than 125+ dApps. Multiple projects like Stargate, Curve, Sushi Trident, and others have been submitted by KAVA.
It is one of the higher lending platforms leading with an APY of 26.50%, which is much better as compared to the ATOM which has an APY of 15.36%.
The KAVA crypto has $625M+ assets on the Chain with bridged assets of $2.5 Billion. There are a total of 120K staked KAVA coins on the platform. The stablecoin market cap of the crypto is $121.47 Million.
The TVL of a KAVA crypto is consistently declining over time as can be seen on charts. It indicates the losing interest of traders in a particular coin.
The KAVA Token Price Technical Analysis
a by writer11_gsm on TradingView.com
The KAVABTC pair is following a consistent downtrend, trading inside a falling parallel channel. This coin is also trading below the EMAs. The RSI is also showing weakness, trading in a downtrend.
KAVA Liquidation Analysis
The KAVA coin is showing a huge long liquidation as compared to the short ones in the last 24 hours. It indicates that the buyers are exiting their position and liquidating the crypto. The derivative volume of the crypto has also declined by 34.89% in the last 24 hours which is a huge number. It represents that the traders are lacking their interest in the KAVA coin.
Conclusion
KAVA is working on the Web3 Platform and has more than 125+ dApps. This crypto also has a very good APY compared to other coins and has a good amount of assets. Yet, there has been a decline in the TVL of the crypto. The technicals are also bearish following a negative price structure. Also, indicators like EMA and RSI indicate a bearish nature.
Therefore, the price of the crypto can advance to higher levels if the TVL of the coin increases with a break of structure to bullish on the chart of the KAVA coin.
Technical Levels
- Support levels for the KAVA Coin are: $0.00002 and $0.00002300
- Resistance levels for the KAVA Coin are: $0.000025 and $0.000027
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. Investing in or trading crypto or stocks comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/09/21/can-the-kava-token-be-the-next-crypto-to-join-the-breakout-rally/