Kava.io Price Prediction 2021 – Will KAVA Hit $10 Soon?

Kava.io Price Prediction 2021 - Will KAVA Hit $10 Soon?
  • Bullish KAVA price prediction ranges from $4.08 to $8.17.
  • KAVA price might also reach $10 soon.
  • KAVA bearish market price prediction for 2021 is $1.17.

In Kava coin price prediction 2021, we use statistics, price analysis, RSI, and many other information about KAVA to analyze the future trend of cryptocurrency.

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 $3.41 with a 24-hour trading volume of $60,732,326, at the time of writing. However, KAVA has increased by 2.4% in the last 24 hours.

Moreover, KAVA has a circulating supply of 70,172,142 KAVA. Currently, KAVA trades in cryptocurrency exchanges such as  Binance, Huobi Global, CoinTiger, FTX, and Upbit. 

Kava Coin Price Prediction 2021

KAVA holds the 154th position on CoinGecko right now. KAVA coin price prediction 2021 explained below with a weekly time frame.

KAVA/USDT Price Chart Weekly Time Frame
KAVA/USDT Price Chart Weekly Time Frame (Source: TradingView)

The above chart shows the “Ascending Triangle pattern”. Generally, an ascending triangle is a breakout pattern that is formed when the price breaks through the upper horizontal trendline as the volume increases. This is a bullish pattern. 

The upper trendline should be horizontal and almost the same as the high point that constitutes the resistance level. The lower trendline rises diagonally, indicating higher lows as buyers patiently step up their bids. 

Eventually buyers run out of patience and rush to safety above the resistance price, leading to more buying when the uptrend resumes. The upper trendline that was previously a resistance level is now becoming support.

In the weekly time frame chart,  if the price of the KAVA breaks the resistance level of $3.42, it will reach the target of $9.34. Or else, if the price of the KAVA breakout the support level of $2.61 means it will fall to the next support level at $1.64 and $1.17. 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.

KAVA/USDT Support and Resistance Level
KAVA/USDT Support and Resistance Level (Source: TradingView)

From the above daily time frames, it is clear the following are the resistance and support level of KAVA.

  • Resistance Level 1 – $4.08
  • Resistance Level 2 – $5.63
  • Resistance Level 3 – $8.17
  • Support Level 1 – $2.61
  • Support Level 2 – $1.64
  • Support Level 3 – $1.17

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 $8.17.

Conversely, if the investors turn against the crypto, the price of KAVA might plummet to almost $1.17, 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. 

KAVA/USDT ADX
KAVA/USDT ADX(Source: TradingView)

The above chart shows the ADX of KAVA stays above the range of 10, so it indicates a weak trend.

Conclusion

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 $8.01 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 $9.34 soon and it might even reach high heights, however reaching $10, 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.

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Monisha is a Senior Programmer in the Automotive Embedded domain. Her interest in the cryptocurrency field made her write about crypto and blockchain-related news.