- Bullish KAVA price prediction is $8.11.
- KAVA price might also reach $9.28 soon.
- KAVA bearish market price prediction for 2021 is $1.13.
Kava is a cross-chain decentralized financial platform (DeFi) that enables users to obtain credit by blocking collateral in exchange for USDX, a stable currency pegged to the US dollar. The protocol built on Cosmos uses ecosystem partitions to provide interoperability and support for cryptocurrencies hosted on disparate blockchains such as Bitcoin and XRP.
Kava Token (KAVA) is a native governance token and a shared asset of the Kava protocol. Token holders are responsible for regulating the protocol, voting on smart contracts and proposals for operating parameters, securing the network and acting as the lender of last resort.
According to CoinGecko, the KAVA price is trading at $6.32 with a 24-hour trading volume of $38,049,586, at the time of writing. However, KAVA has decreased by 1.6% in the last 24 hours.
Moreover, KAVA has a circulating supply of 91,443,180 KAVA. Currently, KAVA trades in cryptocurrency exchanges such as Binance, Huobi Global, CoinTiger, FTX, and Upbit.
Kava Coin Price Prediction 2021
KAVA holds the 145th position on CoinGecko right now. KAVA coin price prediction 2021 explained below with a weekly time frame.
The price action contained between two parallel upward sloping lines defined as an ascending channel. Higher highs and lower lows distinguish this price pattern. An ascending channel formed by connecting the swing lows with a lower trend line and the swing highs with an upper channel line.
A breakout above an ascending channel may indicate that the upward trend will continue, whereas a breakdown below an ascending channel may indicate that the trend will change.
In the weekly time frame chart, if the price of the KAVA breaks the resistance level of $8.11, it will reach the target of $9.28. Or else, if the price of the KAVA breakout the support level of $5.43 means it will fall to the next support level at $2.73 and $1.13. So, the trend of the KAVA is based on the breakout.
KAVA Support and Resistance Level
The below chart shows the support and resistance level of KAVA.
From the above weekly time frames, it is clear the following are the resistance and support level of KAVA.
- Resistance Level 1 – $8.11
- Resistance Level 2 – $9.28
- Support Level 1 – $5.43
- Support Level 2 – $2.73
- Support Level 3 – $1.13
The charts show that KAVA has performed a bullish trend over the past month. If this trend continues, KAVA might run along with the bulls overtaking its resistance level at $9.28.
Conversely, if the investors turn against the crypto, the price of KAVA might plummet to almost $1.13, a bearish signal.
KAVA Average Directional Index (ADX)
Now let’s look at the average directional index (ADX) of KAVA. Generally, ADX is used to measure the overall strength of the trend and it is related to the Directional Movement Index (DMI).
The oscillator ranges from 0 to 100. Moreover, a high price indicates a strong trend, and a low price shows a weak trend. It is often combined with directional indicators.
The above chart shows the ADX of KAVA stays above the range of 15.867, so it indicates a weak trend.
KAVA is one of the cryptocurrencies that keeps its ground against the bear market. Furthermore, our long-term KAVA price prediction for 2021 is bullish. It has a huge possibility of overtaking its current all-time-high (ATH) of $9.12 this year. However, this only happens when KAVA breaks a lot of past psychological resistance.
Furthermore, with the ongoing developments and upgrades within the KAVA ecosystem, it could experience a great future ahead in 2021. It may reach $8.11 soon and it might even reach high heights, however reaching $9.28, if investors have planned that KAVA is a good investment in 2021.
Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.