In KAVA Technical Analysis 2021, we use past statistics, price patterns, RSI, and much other information about KAVAUSD to analyze the future movement of the cryptocurrency.
The multi-asset DeFi platform that offers stablecoins, loans, and other financial services for users of major cryptocurrency belongings including BTC, XRP, and BNB, among others is known as Kava.
Kava is against building on Cosmos, a design decision its team argues adds additional functionality. Moreover, the users are allowed to lock belongings in special smart contracts and borrow USDX.
KAVAUSD Current Market Status
According to CoinGecko, the Kava price is trading at $5.48 with a 24-hour trading volume of $470,224,038 at the time of writing. However, KAVA has decreased by 46.97% in the last 24 hours.
Henceforth, KAVA has a circulating supply of 70,172,142.00 KAVA and a maximum supply of infinity. Currently, Kava trades in Binance, Huobi Global, Kraken.
Kava Technical Analysis 2021
The recent development and upgrades might push Kava to reach new heights. Noe, let’s deep dive into the Litecoin technical analysis 2021. The weekly time frame chart of Kava is shown below.
The above daily frame chart shows the Descending triangle pattern of KAVA. This pattern indicates a bearish chart pattern, however, this is created by drawing one trend line that connects a series of lower highs and a horizontal second line indicates the series of low. Moreover, a breakdown is possible in this case, and this makes traders enter a short position and aggressively force the price of the asset even lower.
Kava RSI, MACD, and MA
The below chart shows the Moving Average Convergence/Divergence (MACD) of KAVA. Notably, the MACD (blue) made a crossover and stayed above the signal indicator (orange line). This means that cryptocurrency traders can still expect more bullish days ahead.
In contrast, if the MACD begins to move below the signal indicator and performs a bearish crossover. Then the crypto features a high possibility of reaching new lows.
Now let’s look at the relative strength index (RSI) of KAVA. As shown in the chart above, the RSI remains above level 70. This shows that KAVA’s price is in an overbought state. However, this provides a confidence for the traders to trade with no fear.
Kava Moving Average (MA) and Exponential Moving Average (EMA) are shown in the chart below. Moreover, MA is a part of technical analysis that helps traders analysis that helps traders to recognize trends. While EMA is a type of moving average.
From the beginning of 2021, it is clear that the KAVA price has shown many bullish patterns. Furthermore, taking all these into account, KAVA could have a competitive market in 2021
Conclusion
With the ongoing developments and upgrades that are taking place within the KAVA platform. The cryptocurrency KAVA has a fantastic future ahead in this crypto market. However, it is possible to see KAVA reaching new heights.
FAQ
Kava is listed on many cryptocurrency exchanges that include Binance, Huobi Global, and Kraken. In which the crypto is out there available to be traded against fiat currencies, stablecoins, and other cryptos.
With the ongoing developments and upgrades within the KAVA platform, it has a high possibility of reaching its ATH soon.
The major DeFi Hub of the Cosmos ecosystem with a full Chainlink implementation, Kava will use IBC to provide secure Chainlink data to hundreds to blockchains through IBC going forward.
Disclaimer: The opinion expressed in this chart solely the author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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