Kava (KAVA) Price Prediction 2023 – Will KAVA Hit $2 Soon?
- Bullish KAVA price prediction for 2023 is $1.146 to $1.923.
- Kava (KAVA) price might reach $2 soon.
- Bearish KAVA price prediction for 2023 is $0.520.
In Kava (KAVA) price prediction 2023, we use statistics, price patterns, RSI, RVOL, and other information about KAVA to analyze the future movement of the cryptocurrency.
Kava (KAVA) Current Market Status
| Current Price | $0.791 |
| 24 – Hour Trading Volume | $88,953,435 |
| 24 – Hour Price Change | 1.24% down |
| Circulating Supply | 506,395,687 |
| All – Time High | $9.12 (On August 30, 2021) |
What is Kava (KAVA)?
Kava is a cross-chain decentralized financial platform (DeFi) that enables users to obtain credit by blocking collateral in exchange for USDX, a stable currency pegged to the US dollar. The protocol built on Cosmos uses ecosystem partitions to provide interoperability and support for cryptocurrencies hosted on disparate blockchains such as Bitcoin and XRP.
Kava Token (KAVA) is a native governance token and a shared asset of the Kava protocol. Token holders are responsible for regulating the protocol, voting on smart contracts and proposals for operating parameters, securing the network and acting as the lender of last resort.
Kava (KAVA) Price Prediction 2023
Kava holds the 97th position on CoinGecko right now. KAVA price prediction 2023 is explained below with a daily time frame.
In the above chart, Kava (KAVA) laid out a Horizontal Channel Pattern, Horizontal channel also known as the sideways trend. In general, the horizontal channel is formed during the price consolidation. In this pattern, the upper trendline, the line which connects the highs, and the lower trendline, line which connects the lows, run horizontally parallel and the price action is contained within it.
A horizontal channel is often regarded as one of the suitable patterns for timing the market as the buying and selling points are in consolidation.
At the time of analysis, the price of Kava (KAVA) was recorded at $0.7931. If the pattern trend continues, then the price of KAVA might reach the resistance levels of $0.847 and $0.954. If the trend reverses, then the price of KAVA may fall to the support of $0.754.
Kava (KAVA) Support and Resistance Levels
The chart below shows the support and resistance levels of Kava (KAVA).
From the above daily time frame, we can clearly interpret the following as the resistance and support levels of Kava (KAVA).
| Resistance Level 1 | $1.146 |
| Resistance Level 2 | $1.923 |
| Support Level 1 | $0.756 |
| Support Level 2 | $0.520 |
As per the above analysis, if Kava’s (KAVA) bulls take the lead, then it might hit and break through its resistance level of $1.923.
Conversely, if Kava’s (KAVA) bears dominate the trend, the price of KAVA might plunge to $0.520.
Kava (KAVA) Price Prediction 2023 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Kava (KAVA) are shown in the chart below.
The technical analysis indicator Relative Volume (RVOL) is used to measure the trading volume of an asset in relation to its recent average volumes. It is typically calculated by dividing the current day’s trading volume by the average volume over a specified period, such as the past 20 or 50 trading days. Also, it helps traders in identifying unusual trading activity and changes in market sentiment.
At the time of analysis, the RVOL of Kava (KAVA) was found below the cutoff line. Thus, it denotes a weak volume of participants trading in the current trend.
The next technical indicator is the Moving Average (MA). This momentum indicator is used to smooth out price data and identify trends in the market. It helps in calculating the average price of an asset over a specific period. Particularly, the 50-day moving average (50 MA) evaluates the average closing price of the asset over the past 50 days. When the price of an asset is above 50MA, it is considered to be in an uptrend (bullish), and if laid below 50MA, it is in a downtrend (bearish).
Notably, in the above chart, the KAVA price lies below 50 MA (short-term), indicating its downward. Hence, KAVA is in a bearish state. Although this is the current state, a trend reversal might occur.
Next up is the Relative Strength Index (RSI). Significantly, this analysis indicator helps traders to determine the strength and momentum of an asset’s price movement over a specific period. In this analysis, the RSI is calculated by comparing the average gains and losses of the asset over the past 14 periods. The resulting value lies between a range of 0 and 100. Hence, the readings above 70 indicate an overbought state, and below 30 indicate an oversold state.
Significantly, traders often use the RSI to identify potential trend reversals or to confirm the trend’s direction. For instance, if an asset is in an uptrend and the RSI reaches an overbought reading of 70, it may suggest that the asset is due for a pullback or correction. Conversely, if an asset is in a downtrend and the RSI is in an oversold reading of 30, it may suggest a potential reversal.
At the time of analysis, the RSI of KAVA is at 43.15. Therefore, this indicates KAVAis neither an overbought nor oversold state. Thus confirming a potential sell signal.
Kava (KAVA) Price Prediction 2023 — ADX, RVI
In the below chart, we analyze the strength and volatility of Kava (KAVA) using the following technical analysis indicators – Average Directional Index (ADX) and Relative Volatility Index (RVI).
To analyze the strength of the trend momentum, let us take note of the Average Directional Index (ADX). The ADX value is derived from the two directional movement indicators (DMI) such as +DI and -DI and is expressed between 0 to 100.
According to the data on the above chart, the ADX of KAVA lies in the range of 9.907 pointing out a weak trend.
The above chart also displays another technical indicator – the Relative Volatility Index (RVI). This indicator measures the volatility of an asset’s price movement over a specific period. With respect to the chart’s data, the RVI of KAVA lies above 50, indicating high volatility.
Comparison of KAVA with BTC, ETH
Let us now compare the price movements of Kava (KAVA) with that of Bitcoin (BTC), and Ethereum (ETH).
Kava (KAVA) Price Prediction 2024-2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Kava (KAVA) between 2024 and 2030.
Kava (KAVA) Price Prediction 2024
If bulls dominate the price momentum and trend patterns, then Kava (KAVA) might successfully test and surpass its resistance levels to hit $3 by 2024.
Kava (KAVA) Price Prediction 2025
The significant upgrades in the Kava ecosystem might persuade the entry of an increased number of investors. This may eventually boost the Kava (KAVA) price to reach $4 by 2025.
Kava (KAVA) Price Prediction 2026
If Kava (KAVA) successfully tests its major resistance levels and continues to move upside, then it would rally to hit $5.
Kava (KAVA) Price Prediction 2027
If Kava (KAVA) sustains major resistance levels and stands as a better investment option in the market, then KAVA would rally to hit $6.
Kava (KAVA) Price Prediction 2028
If Kava (KAVA) holds a positive market sentiment amid the highly-volatile crypto market by driving significant price rallies, then KAVA would hit $7 by 2028.
Kava (KAVA) Price Prediction 2029
If investors flock in and continue to place their bets on Kava (KAVA), then the crypto would witness major spikes. Hence, KAVA might hit $8 by 2029.
Kava (KAVA) Price Prediction 2030
By 2030, the KAVA price might rally to $9 if the trend momentum aligns in favor of Kava. Furthermore, KAVA would hold a positive market sentiment and be labeled as a long-term investment with highly profitable ROI.
Conclusion
If Kava (KAVA) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish Kava (KAVA) price prediction for 2023 is $1.923. Comparatively, the bearish Kava (KAVA) price prediction for 2023 is $0.520.
If there is a positive elevation in the market momentum and investors’ sentiment, then Kava (KAVA) might hit $2. Furthermore, with future upgrades and advancements in the Kava ecosystem, KAVA might surpass its current all-time high (ATH) of $1.1926 and mark its new ATH.
FAQ
1. What is Kava (KAVA)?
Kava is a cross-chain decentralized financial platform (DeFi) that enables users to obtain credit by blocking collateral in exchange for USDX, a stable currency pegged to the US dollar.
2. Where can you buy Kava (KAVA)?
Traders can trade Kava (KAVA) on the following cryptocurrency exchanges such as Binance, Deepcoin, Bitrue, Bybit, and Bitget.
3. Will Kava (KAVA) record a new ATH soon?
With the ongoing developments and upgrades within the Kava platform, Kava (KAVA) has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of Kava (KAVA)?
Kava (KAVA) hit its current all-time high (ATH) of $9.1926 on September 09, 2021.
5. What is the lowest price of Kava (KAVA)?
According to CoinMarketCap, KAVA hit its all-time low (ATL) of $0.3 on March 13, 2020.
6. Will Kava (KAVA) hit $2?
If Kava (KAVA) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $2 soon.
7. What will be the Kava (KAVA) price by 2024?
Kava (KAVA) price might reach $3 by 2024.
8. What will be the Kava (KAVA) price by 2025?
Kava (KAVA) price might reach $4 by 2025.
9. What will be the Kava (KAVA) price by 2026?
Kava (KAVA) price might reach $5 by 2026.
10. What will be the Kava (KAVA) price by 2027?
Kava (KAVA) price might reach $6 by 2027.
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Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Read more: https://thenewscrypto.com/kava-price-prediction
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
