In real-time, the price of $KAVA has dropped by 1.24% in the last 24 hours. Over the past 30 days, the decline amounts to 6.01%, meaning the recent drop is part of a longer-term trend.
Technical indicators show that the MACD is slightly negative, and the RSI is around 49.17 — which is a neutral indicator. The price of $KAVA is below key moving averages (30-day SMA — 0.38679), indicating a bearish trend.
Furthermore, the global cryptocurrency market has decreased by 1.12% in the last 24 hours, so KAVA is likely following the overall market trend. The altcoin season index is 52, which is 8.33% higher over the day, but this is not enough for significant altcoin growth.
In conclusion, the price drop of Kava ($KAVA @kava ) is associated with a combination of bearish technical signals, a lack of urgent positive news, and overall market weakness. Failed technical support levels may have triggered stop-losses or forced traders to close positions.
