Head and Shoulder pattern in KAVA/BTCIn 4h chart of KAVABTC candles formed Head and Shoulder pattern
Kavausdtbinance
KAVA 1D Volume zone of accumulation $0.80-1.20 beckons to itselfSince the publication of the previous KAVA idea , there has been the news, good and bad:
- The good news is that the announced Mainnet launch in the previous idea took place on time and without bugs, KAVA 4 is live.
During this time, there have also been a number of collaborations with other projects. And the Binance exchange organized a competition with prizes for those who trade KAVA.
- The bad news tells us the current realities regarding the Kava token. Positive and productive news background could not only to push the price up, but even to keep it above the level $2.
When the price fixed below $2, sellers got full control over the situation. They pushed the price down, clearly to $1.19 where the lower target was.
Further, the competition from Binance and the BTC growth were able to push the Kava price up to a strong mirror level $1.73. Previously, only for 3rd time it was possible to break it down.
But, while the Kava cost is below the zone $1.84-2.00 , sellers control the process.
Most likely, sellers aim to lower the price into the accumulation zone $0.80 -1.20, where during the last year there was a powerful Kava accumulation twice.
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KAVA - Retesting Key Support, Quick 20%+ likely!KAVA has been crashing around it's key support for a few weeks now, in a declining triangle; which as we've seen can go either way.
As we've seen with the last two bounces, we're likely to hit up from where we're at now to the upper resistance line.
RSI is ripe for reversal
MACD has shrinking bearish deviation and is heading to bull cross
volume has been dropping over the sell
EMA's 100& 50 are both by the upper resistance line,
We just went below EMA 200, which has been a pivot line 3 times in the last month and a half.
Should be pretty clean; set your stop loss below the support level , if it goes south it'll be a hefty decline.
There's a chance we'll move up to the green demand zone as we have been ranging here for a good while. But safe bet is catch the upper trend-line as TP.
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