Since November 2024, $KAVA has been trading within the "descending wedge" pattern, with recent price movements testing the upper boundary of the trend around $0.387. The MACD histogram has turned positive for the first time in 30 days, indicating a potential bullish momentum.
What this means: Traders are reacting to the compression phase, where lower highs and stable support ($0.3715 since December 2024) usually precede an increase in volatility. However, the 30-day moving average (SMA) at $0.386 remains resistance — a sustained breakout above this level could trigger automatic buying.
Key indicator: Watch the Fibonacci retracement area of $0.387–$0.397 for confirmation of a breakout. #KavaBNBChainSummer @kava
