KAVA Price Prediction: KAVA Falls 2% – What Could Be the Next Move?

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The layer-1 blockchain Kava has recorded an increased selling activity, evident in its 24-hour trading volume, down by 43% today, August 22. The coin’s market value is $0.6961 at 04:25 EST, representing a decline of 3% in the last 24 hours.

Due to the decline in price and trading volume, investors now wonder if KAVA might fall lower or if there’s a possibility of a trend reversal.

Kava’s Price Changes in the Past Weeks Indicate a Continuing Bearish Trend

The digital asset is in a bearish trend creating fear among traders as its price has dropped 23% over the past 30 days. Historical data from TradingView reveals that the asset has been struggling to reclaim a bullish trend since July 26.

Notably, over the past 14 days, the coin has lost 15% in its price, and its seven days price change shows a 17% loss. This unhealthy market condition is problematic for investors as it creates more uncertainty within the market.

Kava Trades Below the Lower Band, Will the Downtrend Continue?

Based on the chart above, the KAVA is in a bearish trend, as seen by the red candlestick. Also, Kava is moving towards the lower band of the Bollinger indicator, suggesting a bearish momentum. If the bears increase today’s selling pressure, it could drag Kava below the Bollinger indicator.

Based on historical data, the asset price went below the indicator on August 17 and rebounded, evidenced by the green candle above the lower Bollinger band.

However, the price today is negative, and the red candlestick shows the asset has lost the slight bullish momentum and now records a negative market sentiment pushing the coin’s price down.

Kava’s Moving Average Convergence Divergence (MACD) is below the signal line with faded red histogram bars.

This implies that the asset is bearish and supports the signal from the Bollinger indicator, but the faded histogram bars imply that the coin’s bearish momentum is gradually falling.

The Relative Strength Index of 27.79 in the oversold region supports the MACD’s histogram bars, showing a tendency for a trend reversal. Based on the signals from the technical indicators, this is an excellent time to buy KAVA. But traders should be cautious as technical analysis alone is not enough.

Kava’s Support and Resistance Price Levels

The chart above reveals that bears control the market; if they increase selling pressure, their actions could force Kava’s price down to the $0.6639 support.

Nonetheless, if the bulls take over the coin’s market, the asset’s value might rise to the $0.8500 resistance in the coming week. If the buying momentum continues, more investors could flood the market, pushing Kava’s price to the $0.9312 resistance.

Kava Network’s Collaboration with Hover Could Increase Adoption Pushing Price

The Kava network collaborates with a non-custodial liquidity market, Hover, to innovate the DeFi space.

💡: A great primer on Hover and its role in the @KAVA_CHAIN ecosystem from @Coinspeaker: "A DeFi Paradigm Shift: Hover’s Pioneering Non-Custodial Liquidity Market" https://t.co/tm8e2VbgwU #DeFi #DeFiLending #Staking #Web3 #Liquidity #Kava #Cosmos #DeFiDerivatives

— Hover ($HOV) (@hover_market) August 21, 2023

The partnership is aimed at utilizing the co-chain ability of Kava Network to revolutionize the lending scheme in the sector.

It will enable Hover to maintain its borrowing and lending requirements in the DeFi space for holders and long-term users to foster a flawless experience.

With this partnership, more investors could be attracted to the Kava Network as its potential in decentralized finance is unfolding. Such attention and adoption could positively impact Kava’s market value in the future.

Kava Welcomes Kinetix Finance into Its Network, Increasing Utility

On August 15, the Kava network shared via the X platform that a decentralized perpetual market Kinetix Finance launched the first V3DEX on its platform.

1/11 📣

Anons, plebs, degens, listen up!@KinetixFi is launching the first #v3DEX (and perpetual market, but more on that another time…) on #Kava on August 15th, 2023

Let's unpack what that means & why you should care.

A thread 👇: pic.twitter.com/LOmGRgpwMi

— Kava (@KAVA_CHAIN) August 15, 2023

Kinetix Finance aims to develop a state-of-the-art DeFi hub on the Kava chain to ensure flexibility in asset price range, fee sharing, and fee flexibility and to enhance capital efficiency in DeFi.

Moreover, the DEX perpetual platform will also incorporate incentives to increase liquidity from users on a distributed network with various risk and wealth profiles.

It will also allow liquidity staking and reward investors participating in the staking activity from fees generated during trading and other fundraising sources.

This association between the Kava Network and Kinetix Finance might positively affect the market price of Kava as the coin’s adoption rate increases.

An AI-Powered Project, yPredict Hits Over $3.5 Million

yPredict ($YPRED) is an innovative AI-powered assets analytical firm in the Web3 space that provides traders and investors with analytical tools and data-driven insights into various assets.

With these data-driven insights, crypto newbies can make informed trading decisions and maximize profit from the crypto market.

The project has attracted the interest of multiple investors following its impressive presale performance. The presale has attained a milestone of $3 million, implying that the token’s adoption is increasing.

The founders of yPredict intend to solve humans’ difficulty in predicting financial markets by providing AI predictive analysis and other metrics to help users succeed.

Financial quants, AI and Machine Learning experts, and traders can sell predictive models as subscriptions. This provides passive income for these experts in the financial market.

Remarkably, yPredict will share 10% of every new subscription in its platform to users who stake $YPRED in the project’s staking pool. Additionally, users who stake the token also stand a chance of making between 5 and 10% APY as staking rewards.

The token, $YPRED, is the platform’s utility instrument that allows users to get discounts on model prediction subscriptions and other premium offers within the yPredict.

Today, the presale is on stage 7, has raised more than $3.5 million, and heading to the $4.5 million threshold for this stage.

The selling price for a single token is equivalent to $0.1 and is expected to rise to $0.11 after reaching the above benchmark. This will be an 11% price gain for investors that purchase $YPRED at the current selling price.

The team at yPredict promised to list the token on crypto exchanges at the selling price of $0.12. This makes the present price a lucrative entry window for making a substantial profit.

To be among the early investors, visit the presale website, connect a crypto wallet, and use either ETH, MATIC, USDT, BNB, or bank cards to swap $YPRED.