Kava.io / US Dollar Cryptocurrency Forecast
Kava.io / US Dollar cryptocurrency price ended at $0.646 on Saturday, after losing 2.88%.
(Updated on May 11, 2024)
The Kava.io / US Dollar cryptocurrency price fell by -2.88% on the last day (Saturday, 11th May 2024) from $0.666 to $0.646. During the last trading day the cryptocurrency fluctuated 2.18% from a day low at $0.638 to a day high of $0.652. The price has risen in 5 of the last 10 days and is up by 2.23% over the past 2 weeks. Volume has increased on the last day by 6 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 7 million shares were bought and sold for approximately $4.63 million.
The cryptocurrency lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.613 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the cryptocurrency is expected to fall -15.78% during the next 3 months and, with a 90% probability hold a price between $0.516 and $0.83 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 Thursday, May 02, 2024, and so far it has risen 2.29%. 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 sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.671 and $0.726. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the cryptocurrency should be followed more closely.
Support, Risk & Stop-loss for Kava.io / US Dollar cryptocurrency
Kava.io / US Dollar finds support from accumulated volume at $0.640 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the cryptocurrency moved $0.0139 between high and low, or 2.18%. For the last week, the cryptocurrency has had daily average volatility of 3.22%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (KAVAUSD) For The Upcoming Trading Day Of Sunday 12th
For the upcoming trading day on Sunday, 12th we expect Kava.io / US Dollar to open at $0.645, and during the day (based on 14 day Average True Range), to move between $0.599 and $0.694, which gives a possible trading interval of +/-$0.0477 (+/-7.38%) 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 14.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.651 (0.70%) than the support at $0.640 (1.02%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Kava.io / US Dollar cryptocurrency A Buy?
Kava.io / US Dollar holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this cryptocurrency.
Current score: -3.464 Sell Candidate Unchanged
Predicted Opening Price for Kava.io / US Dollar of Sunday, May 12, 2024
| Fair opening price May 12, 2024 | Current price |
|---|---|
| $0.645 ( 0.160%) | $0.646 |
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 | 0.659 | 1.99 % | |
| R2 | 0.654 | 1.17 % | ||
| R1 | 0.651 | 0.662 % | ||
| Current price: | 0.646 | |||
| Support | S1 | 0.640 | -0.98 % | |
| S2 | 0.637 | -1.49 % | ||
| S3 | 0.631 | -2.31 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.778 | 20.33 % | |
| R2 | 0.773 | 19.52 % | ||
| R1 | 0.651 | 0.696 % | ||
| Current price | 0.646 | |||
| Support | S1 | 0.640 | -1.02% | |
| S2 | 0.638 | -1.24% | ||
| S3 | 0.632 | -2.18% |
FAQ
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