Unexpected Movements in the Price of Kava
Kava’s price analysis shows a bearish trend at the moment, down 0.23%. The bears led KAVA from $0.761 to $0.7468 over 24 hours. Support for KAVA/USD is at $0.7286, which is an important level to watch.
Kava’s price analysis shows a sudden drop in price after a downward trend. It is likely that the bearish light will be seen intensifying soon as the bulls continue to be weak at the moment. The bulls are currently controlling the market a few hours before the price drops in today’s market. If the bears maintain their strength, KAVA/US may fall to $0.7286 in the near future.
However, even if the bulls are able to perform fully, KAVA/USD may finish up to $0.761 in the near term. The KAVA token is down by 0.23% and is currently trading at $0.7468, as at the time of writing. 24’s trade value is also down this season, and is now at $19 million. Although the market capitalization is still high of $ 280 billion, which indicates that the bull may return in the near future.
It is difficult for bulls and bears to control the market, and it is difficult to predict which way the market will go. But now, the bearish power is getting worse, and KAVA/USD may fall to $0.7286 in the near future.
The value of the moving average (MA) is from $0.504, which is still above the SMA 50 curve. This gives hope to buyers, although the change is decreasing, which gives a different signal according to Kava’s price analysis.
KAVA/USD Trading Sideways as Bears Remain in Control
The Bollinger band is converging on the top of the Bollinger Band at $0.781, while the Bollinger Band is at $0.5366, suggesting that the price will remain within the range for the foreseeable future. The Relative Strength Index (RSI) is at the level of 38.41, indicating that KAVA/USD will not reach the limit in the near future.
The 4-hour price chart shows that the short overshoot from the bears, which caused a lot of damage in today’s trading session, is increasing the bearish trend. The increase was stronger as the price fell significantly; However, support also appeared as the price rose slightly to $0.7286 in the past few hours. However, the current trend is going in the wrong direction.
The hourly moving average (MA) is currently at the level of $0.743, next to the current market price. The Bollinger bands are decreasing on the chart as the upper band is at $0.786, while the lower band is at $0.6463. The RSI indicator also declined, but after recovering a little, the indicator is trading at an index of 69.70.
Overall, KAVA/USD is trading sideways as buyers and sellers are still struggling to control the market. The trend continues to be negative, suggesting that the bears are in control. Buyers should gain momentum and push the price back above the $0.735 level.