After forming the all-time high mark of $9.19, the KAVA token lost 62% of its cost during short-selling. In the past two days, buyers appear to be aggressive with the kava token, which is up 10.94% at $3.47 at the time of writing. For the past two weeks, the token has been in a box pattern, and bulls have been attempting to hold the price above $3.5 short-term resistance.
- Kava token’s price is consolidating in the tight horizontal range after slipping from the broadening wedge pattern.
- The Kava token price is below the major moving averages (including 20,50,100 and 200 MAs) and may retest the 20-MA in this week.
- KAVA/BTC pair price shows solid bullish momentum by 6.48% at 0.00009156 satoshis.
As soon as the token retested the upper-hurdle of the bordering wedge pattern, bears dumped the token, resulting in KAVA’s price slips rapidly. Kaba token lost 24% trading volume over the past 24-hours. However, the volume oscillator indicator is approaching the negative region in terms of a daily price chart. The volume and market capitalization ratio is 0.1382.
Between the battle of buyers and sellers, Kava token gets stuck
Following a sharp sell-off from an ATH, the kava token/Bitcoin pair price is consolidating below the 50-day moving average. The KAVA/bitcoin pair price recently recovered from vital 0.000082 satoshis support and is now up 6.46 % at 0.0000915 satoshis. The pair price is just below the 20-day moving average; above this bullish boundary, buyers will be more aggressive. If the KAVA token and Bitcoin pair price break through the 20-MA this week, we can expect a sharp recovery to the 0.000136 satoshis resistance. On the other hand, The MACD indicator attempts to generate a bullish crossover from the negative region.
Although the KAVA token is below the major moving averages (including 20,50,100 and 200 MAs), while bulls are attempting to jump the tokne’s price above 20-MA. However, RSI is at the 45-mark, which reflects the sideways stage. Furthermore, the average directional index indicates the buyers’ weak bullish momentum.
Conclusion
If buyers succeed in breaching the box pattern, then the bulls have the opportunity to grab the KAVA token’s trend, and the immediate resistance sits at $6.0.
Support level – $3.0 and $2.5
Resistance level – $4.0 and $6.5
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