KAVA – Support and Resistance Zones and Price Targets

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Today I am sharing some technical analysis on KAVA as its looking damn perky!

KAVA has is in a weekly uptrend and is pushing up toward its all time high. Volume has been increasing with price action which is bullish . On July 6th , 2020, the 10SMA crossed above the 21EMA, which resulted in a 345% price increase over a 42 day period!

A weekly close above $4.00 may confirm another bullish cross of the 10SMA and the 21EMA. A 350% price increase from here would bring KAVA to $14.00.

We are also in the midst of a Golden Cross. June 26th, 2020 was the last Golden Cross KAVA had. It resulted in a 427% price increase over 52 days.

KAVA confirmed another Golden Cross on January 29th, 2021 and has seen a 98% price increase since then.

Daily stochastics will remain bullish as long as price is closing above around $4.10. A pullback here with stochastics coming back down to the trend line would suggest bullish continuation and may present an opportunity. Sideways to down is looking likely.

Daily RSI looks constructive, but is also suggesting that some sideways and down would be constructive before further upside continuation. RSI coming back down to the trend line and/or the exponential would be construed as bullish .

These Fibonacci extensions can be nice places to take profit for the longer-term HODL positions.

The Fibonacci extensions come in at: $7.45, $11.25, $15.00, $17. 40 , and $18.85. BTC recently surpassed it’s 4.618 Fibonacci extension and KAVA looks like it could as well

Long-term price action looks bullish and I suspect we’ll see continuation to the prior ATH , then beyond in the coming weeks to months.

A little sideways and down consolidation from here would be bullish as long as daily candles are closing above $3.00. As long as the bulls can hold $3.00, I am bullish on price action long-term!

I view pullbacks down to $3.00 as opportunities.

If, however, the bulls take come back in force and we see a daily close above the current local high at $4.00, then I would be looking for immediate continuation.

Support and Resistance Zones and Price Targets

$3.00
$3.50
$4.00
$4.65
$5.00


Guide to My Charts

-The purple horizontal lines are support/resistance ‘zones’. If price pierces though one side of the support/resistance zone, it is likely to head to the next support/resistance zone!

-Yellow lines are typically used to chart out pattern formations and trend lines!

-The colored lines are MAs (Red: 10SMA, Yellow: 21EMA, Green: 55EMA, Blue: 89EMA, Purple: 200EMA, White: 200SMA, Maroon: 377EMA).

-Horizontal white and green lines may be Fibonacci levels. The 0.382 and the 0.618 Fibs are green and the rest are white.

-The Historical Volatility Percentile, RSI , and/or stochastics indicators are below the chart if displayed.


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Disclaimer:

This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my technical analysis and potential trade setup ideas.

These posts are intended for educational purposes only. It is imperative that everyone conduct their own research prior to entering any trade.