- The KAVA token price is bearish as seen on a daily chart after it fails to sustain at the supply zone.
- The KAVA token price is forming a descending triangle pattern on a daily time frame.
- The pair of KAVA/BTC is trading at the price level of 0.0000849 with an increase of 0.34% in the past 24 hours.
The KAVA token price as per the price action is bearish on a daily time frame. The KAVA token price has fallen back to the demand zone after facing a strong elevation of the supply zone. The KAVA token price is facing continuous strong rejection of the red trendline acting as a supply zone and is bouncing off the same demand zone. As a result, the demand zone has become weak indicating a possible breakdown in the upcoming trading days. The KAVA token price consolidation at the demand zone on a lower time frame. At present, the KAV token price is trading below the 50 and 100 Moving Averages. The recent breakdown in the KAVA token price as or faced the global market heat has resulted in the token price falling below the 50 and 100 MAs. The token price has also gone below the 14 SMA indicating short-term bearishness. Moving upwards the token price can be seen as facing strong rejection from these MAs. Currently, the token price is transacting at the lower band of the Bollinger band indicator after failing to surpass the upper band. Volumes have increased causing the volatility to increase.
The KAVA token price is forming a descending triangle pattern on a daily time frame
ດັດຊະນີຄວາມເຂັ້ມແຂງທີ່ກ່ຽວຂ້ອງ: RSI curve is currently trading at the level of 36.69.RSI curve is yet to cross the halfway mark of 50. Once the token price bounces off the demand zone, the RSI curve can be seen moving upward crossing the halfway mark of 50, supporting the trend of the KAVA token. The RSI curve has also crossed the 14 SMA downward indicating some bearishness before the further upwards movement. If the token falls below the demand zone, the RSI curve can be seen falling further.
ດັດຊະນີການເຄື່ອນໄຫວທິດທາງສະເລ່ຍ: ໄດ້ ໂທເຄັນ KAVA price has been on a strong downtrend on a larger time frame. The recent fall in the supply led to the ADX curve falling below the 25 mark. The KAVA token price is forming a bearish chart pattern and the same is depicted by the ADX curve. If the KAVA token price fails to sustain the current demand after consolidation and falls below it the ADX curve can be seen falling further supporting the trend.
ການເຄື່ອນຍ້າຍສະເລ່ຍຂອງການເຊື່ອມໂຊມ: The KAVA token price is bearish as it fell to the important demand zone. Currently, as it rests at the demand zone, the MACD indicator has given a negative crossover. The orange line crossed the blue line on the upside. If the token price fails to sustain above the demand zone, then the fall in the price of the KAVA token can result in the MACD line widening supporting the trend.
ສະຫຼຸບ: The KAVA token price is bearish as per the price action. The KAVA token price is forming a bearish chart pattern. As the token fell from the supply zone, the technical parameters also turned negative. It remains to see if the bulls can push the token price up from the demand zone, or if bears take control and push the price down.
SUPPORT: $ 1.40 ແລະ $ 1.45
ຄວາມຮັບຜິດຊອບ: $ 1.9 ແລະ $ 2.5
Source: https://www.thecoinrepublic.com/2022/09/04/kava-token-price-analysis-kava-token-price-is-bearish-on-the-larger-time-frame-as-or-forms-a-bearish-chart-pattern-will-it-break-down-the-important-demand-zone/