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KAVA price prediction is mildly bearish but a pullback rally is possible. - 2
Kava crypto price is trading below the 50-day and 200-day EMA showcasing a downtrend. - 3
KAVA’s price is near the long-term demand zone.
KAVA price prediction is bearish till the price trades below the $0.800 level. However, it suggests a short-term pullback rally is possible in the coming months.
KAVA price faced rejection from the 200-day EMA and also dropped below the 50-day EMA. It showcases short-term trends as well as positional trends in a downward direction.
Kava crypto prices seem to be stuck in the wide range between $0.600 to $1.20. Buyers tried multiple times to break the higher range and expand upward. But due to the strong presence of sellers it got rejected and reverted down.
The previous breakout attempt was powerful and supported by the strong buying volume. Despite that, it faced rejection showcasing that the speculators are highly active. Slow and steady, Kava prices declined by forming lower lows candles and returned back to the lower range.
Kava’s price is trading at $0.708 with an intraday decline of -0.28. The 24-hour volume to market cap is 6.26%. The pair of KAVA/BTC is trading at 0.00002718 with an intraday rise of 0.37%.
Will KAVA Price bounce back from the demand zone?
KAVA price prediction suggests the price is near to the demand zone and a relief rally may trigger anytime.
The recent downfall in Kava crypto is due to the fall in the overall crypto market. So if the BTC prices recover in the coming weeks then Kava crypto might get positively impacted.
Till the KAVA price sustains above $0.500 support, the possibility of a bounce back remains high. However, the prices will pick up momentum when buyers are able to climb above the 200-day EMA.
The technical analysis suggests KAVA crypto is inside the bear grip but the downside looks limited to $0.500.
KAVA crypto price is oversold
KAVA crypto price fell for 8 consecutive weeks. It shows the sellers’ dominance on the higher levels. However, the prices look oversold and it might consolidate in a narrow range before deciding on further direction.
The MACD curve slopes down and displays a negative crossover. The histogram bar is also red, indicating bearishness. The RSI at 29 reversing upward from the oversold territory.
Conclusion
KAVA price prediction is mildly bearish for the short term. However, the price is near to the crucial support so a short-term bounce is possible.
The technical analysis suggests KAVA crypto price is in a downtrend so the possibility of regaining $100 in September remains low.
Technical levels
- Resistance levels: $0.900 and $1.000
- Support levels: $0.620 and $0.500
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/08/21/kava-price-prediction-will-kava-be-able-to-regain-1-in-sep/