Technical analysis $KAVA shows that the moving averages (SMA and EMA) for 7, 30, and 200 days are above the current price — $0.371.
The MACD histogram is negative, indicating a bearish sentiment in the market. RSI values around 43-44 suggest neutral or slightly bearish sentiment, with the asset not yet being oversold. Fibonacci retracement levels show resistance in the range of $0.394–$0.419, which the price has not been able to break through yet. Thus, technically, KAVA is struggling to overcome key levels.
Another point from the technical analysis: since December 2024, KAVA has been in a descending channel with decreasing highs. Recent attempts to break the $0.50 level have been unsuccessful, leading to consolidation. The current price is close to the support level at $0.3715. If this level is broken, further decline may occur. The trading volume during consolidation was lower, but the increase in volume over the last 24 hours indicates more active trading, possibly with a predominance of sellers. #KavaBNBChainSummer @kava