Kava (KAVA) Analysis
Kava (KAVA) Analysis
In addition to automated chart patterns, altFINS’ analysts conduct technical chart analyses of top 30 cryptocurrencies. We call these Curated Charts and they evaluate 5 core principals of technical analysis: Trend, Momentum, Patterns, Volume, Support and Resistance.
Kava (KAVA) technical analysis:
Trade setup: Trends are mixed. Price has broken below 200-day moving average, which could signal onset of downtrend. Swing Trader:Price bounced off of $0.55 support and is now approaching a stiff resistance area at $0.80, which also lines up with 200-day MA. We would consider Short Selling it at that resistance area. If price gets rejected, it could revisit $0.67 or even $0.55. Stop Loss (SL) at $0.84. Trend trader: wait for a breakout from Falling Wedge pattern and above $0.80, which could signal resumption of uptrend. (set alert).
Patterns: Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher. Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout and then place a BUY order. Learn to trade chart patterns in Lesson 8.
Trend: Downtrend on Short- and Medium-Term basis and Uptrend on Long-Term basis.
Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI < 45 (Bearish).
Support and Resistance: Nearest Support Zone is $0.67, then $0.55. The nearest Resistance Zone is $0.80 (previous support), then $0.90 and $1.15.
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What is Kava.io (KAVA)?
Find full description and news on altFINS platform.
Overview
Kava is a cross-chain DeFi platform which supports multiple applications and services for cryptocurrency users. Kava’s blockchain provides a safe and secure environment for DeFi apps and services to run.
History
Overview Kava is a Layer-1 blockchain that provides DeFi services such as stable coins, bonds, and lending to crypto users across many blockchain networks. Kava operates with a Tendermint-based Proof-of-Stake (PoS) consensus mechanism which offers Byzantine Fault Tolerance, instant finality, and security. With several Cosmos SDK modules implemented and 100+ professional validator secured, the Kava blockchain ensures users to earn more with their digital assets safely. History Kava aims to offer a foundation for various open financial services including Kava’s security, cross-chain bridges, and adapted Chainlink Oracles to allow developers to quickly create new cross-chain DeFi applications and deploy them to Kava’s global user base. The Kava lending platform and the native cross-chain money market application HARD Protocol built on Kava blockchain combine to create a decentralized bank for digital assets connecting users with products like stablecoins, loans, and interest bearing accounts so that they can do more and earn with their digital assets. The Kava ecosystem has three types of tokens, the KAVA token, the USDX stablecoin and the HARD token where the KAVA token is the native token of the Kava blockchain integral in the security, governance, and mechanical functions of the platform. Users can collateralize their crypto assets in exchange for Kava’s stablecoin, USDX. The HARD token is the governance token of HARD Protocol and is used to incentivize early participants giving them a voice in the ongoing evolution and management of the application.
Asset profile is provided by messari. Original version can be found at Messari
Written byRichard Fetyko