KAVA Surges as Investors Seek Buying Opportunities

Investors in the cryptocurrency market are looking for buying opportunities despite the current volatility of Bitcoin and Ethereum. As a result, many traders are turning to bullish altcoins like KAVA, which has been showing steady price growth despite market selling pressure.

KAVA, a native token of the KAVA blockchain, recently completed a higher low price formation above an ascending trend line. From a monthly low of $0.667, KAVA's price has risen by more than 35% in just five days.

KAVA Attempts Breakout
While Bitcoin's price is falling, KAVA's price continues to rise this week. KAVA’s investors seem to be unaffected by a potential drop in Bitcoin's price.

KAVA's price surged towards a bullish hurdle on May 10th, reaching a 20-day high at $0.909 with a remarkable 10.6% gain on Wednesday. Currently, the altcoin is trading against the USDT pair at $0.906.

KAVA's Future Looks Promising
Trading volume indicators suggest that there has been significant accumulation of KAVA coins near the support trendline. KAVA witnessed the highest trading activity in the last few months in the month of May.

The KAVA coin is currently trading above the 50 simple moving average, with bulls pushing the price up. Historically, the 200-SMA has acted as a significant support and resistance level for sellers. The market is now waiting to see if the bulls can maintain their momentum and push the price of KAVA beyond the 200-SMA.

The Relative Strength Index (RSI) has crossed the crucial threshold of 50 and is now steadily climbing towards the upper limit. This is an encouraging sign for potential buyers, who could benefit significantly if the coin manages to break through the current resistance trendline.

However, we will still need to have Bitcoin at least ranging and not falling for a significant rally to occur.

The best cryptocurrency automated trading platform.


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.