Hi dear patrons, hope you are well and welcome to the new update on Kava. io (KAVA) token
The channels and SMA resistance:
On a daily time frame, KAVA has formed a down channel and recently came out of the resistance of this channel and formed another up channel. There is a price level resistance at $4.55. Right now the price action is rejected by this resistance and there is also 100 SMA resistance as well.
Big triangle and hidden divergence:
On a weekly time frame, KAVA has broken out a big symmetrical triangle and now re-testing the previous resistance as support. If we take a look at the stochastic then there is also a hidden bullish divergence, as the priceline is forming higher lows and the RSI is setting lower lows. Therefore, there is a very high probability for a big bullish move, and obviously, Kava 9 mainnet Upgrade event will be also supported for this move. By the way, this event is expected on 19 Jan 2022.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
The channels and SMA resistance:
On a daily time frame, KAVA has formed a down channel and recently came out of the resistance of this channel and formed another up channel. There is a price level resistance at $4.55. Right now the price action is rejected by this resistance and there is also 100 SMA resistance as well.
Big triangle and hidden divergence:
On a weekly time frame, KAVA has broken out a big symmetrical triangle and now re-testing the previous resistance as support. If we take a look at the stochastic then there is also a hidden bullish divergence, as the priceline is forming higher lows and the RSI is setting lower lows. Therefore, there is a very high probability for a big bullish move, and obviously, Kava 9 mainnet Upgrade event will be also supported for this move. By the way, this event is expected on 19 Jan 2022.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade