KAVA/BTC has been in a downtrend since Aug 2024, dropping from 0.0000400 to 0.0000100 BTC. However, recent signs point to a potential short-term reversal:
Price: Showing a slight uptick with a projected upward trend targeting 0.0000160, 0.0000180, 0.0000220, 0.0000260, and 0.0000300 BTC.
Ichimoku Cloud: Price is below the cloud (bearish), but the cloud is thinning, suggesting weaker resistance.
Volume: Rising buying volume supports the recent price increase.
RSI: At 50-60 (neutral), with room to rise.
MACD: Bullish crossover and positive histogram indicate growing upward momentum.
Outlook: A break above the Ichimoku Cloud (0.0000120-0.0000140 BTC) could confirm a trend reversal. If it fails, the price may retest support at 0.0000080 BTC. Watch for volume and price action at key levels.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.