Kava.io / US Dollar Cryptocurrency Forecast
Kava.io / US Dollar cryptocurrency upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 26, 2024)
The Kava.io / US Dollar cryptocurrency price fell by -0.326% on the last day (Friday, 26th Apr 2024) from $0.735 to $0.733. It has now fallen 3 days in a row. During the last trading day the cryptocurrency fluctuated 5.97% from a day low at $0.695 to a day high of $0.737. The price has risen in 6 of the last 10 days and is up by 14.54% over the past 2 weeks. Volume fell on the last day along with the cryptocurrency, which is actually a good sign as volume should follow the cryptocurrency. On the last day, the trading volume fell by -16 million shares and in total, 7 million shares were bought and sold for approximately $5.09 million.
The cryptocurrency lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.649 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the cryptocurrency is expected to rise 8.42% during the next 3 months and, with a 90% probability hold a price between $0.704 and $1.18 at the end of this 3-month period.
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KAVAUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 14.77%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Kava.io / US Dollar cryptocurrency holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the cryptocurrency giving a more negative forecast for the stock. On further gains, the cryptocurrency will meet resistance from the long-term Moving Average at $0.85. On a fall, the cryptocurrency will find some support from the short-term average at $0.727. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Kava.io / US Dollar cryptocurrency
Kava.io / US Dollar finds support from accumulated volume at $0.707 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.0415 between high and low, or 5.97%. For the last week, the cryptocurrency has had daily average volatility of 5.64%.
Our recommended stop-loss: $0.700 (-4.44%) (This cryptocurrency has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (KAVAUSD) For The Upcoming Trading Day Of Saturday 27th
For the upcoming trading day on Saturday, 27th we expect Kava.io / US Dollar to open at $0.722, and during the day (based on 14 day Average True Range), to move between $0.661 and $0.80, which gives a possible trading interval of +/-$0.0719 (+/-9.81%) up or down from last closing price. If Kava.io / US Dollar takes out the full calculated possible swing range there will be an estimated 19.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.707 (3.45%) than the resistance at $0.81 (10.51%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Kava.io / US Dollar cryptocurrency A Buy?
Kava.io / US Dollar holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.061 Hold/Accumulate Upgraded
Predicted Opening Price for Kava.io / US Dollar of Saturday, April 27, 2024
| Fair opening price April 27, 2024 | Current price |
|---|---|
| $0.722 ( 1.51%) | $0.733 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KAVAUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.763 | 4.16 % | |
| R2 | 0.747 | 1.99 % | ||
| R1 | 0.738 | 0.658 % | ||
| Current price: | 0.733 | |||
| Support | S1 | 0.706 | -3.67 % | |
| S2 | 0.696 | -5.01 % | ||
| S3 | 0.680 | -7.17 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.89 | 21.93 % | |
| R2 | 0.81 | 10.81 % | ||
| R1 | 0.81 | 10.51 % | ||
| Current price | 0.733 | |||
| Support | S1 | 0.707 | -3.45% | |
| S2 | 0.651 | -11.16% | ||
| S3 | 0.638 | -12.87% |
FAQ
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