Kava ($KAVA ) has fallen by 3.33% to $0.369 in the last 24 hours, which is worse than the overall cryptocurrency market (-0.57%). Main reasons:
Technical breakout – failed to hold key moving averages ($0.3777 SMA7)
Weakness of altcoins – Bitcoin's dominance has risen to 57.48%, putting pressure on smaller coins
Low liquidity – trading volume has decreased by 53.5% to $10.5 million, intensifying downward pressure
$KAVA has fallen below the 7-day moving average ($0.3777) and the 30-day ($0.38599), indicating a bearish trend. The Relative Strength Index (RSI14) at 45.59 shows weakening buying pressure, and the minimal positive divergence of the MACD histogram (+0.000649) failed to trigger a recovery.
Technical traders likely closed positions after the price failed to break above the 23.6% Fibonacci retracement level ($0.3917). In the absence of support down to the July low ($0.3465), the chart structure favors short positions.
