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Kava price blasted through several stubborn resistance zones following exposure to a wider audience. Coinbase exchange listed KAVA as a tradable instrument on Wednesday, giving life to bulls who at the time, were struggling with an immense seller congestion zone at around $0.80.
KAVA stretched the leg past $1.00, reaching $1.10 for the first time since early November when crypto markets were reeling from the pain caused by the implosion of Sam Bankman-Fried’s FTX exchange.
The decentralized blockchain token, tapping the power of Cosmos and Ethereum networks, is up slightly over 9% to trade at $1.02 during the early European session on Thursday. Bulls are hoping to secure higher support, preferably above $1.00 to avert a potential risk of slashing the gains to lower levels at $0.70 and $0.52.
Coinbase Lists KAVA, Igniting Kava Price Rally
Kava price broke out significantly following an announcement by Coinbase Assets that the United States-based exchange, Coinbase will add support for KAVA. However, investors were cautioned not to send the token to other networks but to the Kava network, to avoid losing funds. Inbound transfers for KAVA have been supported on Coinbase and Coinbase Exchange in the regions where trading is allowed.
Investors can start buying and selling KAVA on January 19, 2023, at 9.00 a.m. Pacific Time. The exchange will ramp up trading of the KAVA/USD pair once the desired liquidity has been achieved – likely in to be in phases. This support for KAVA may be restricted in some regions as outlined by Coinbase Assets.
Trading Volume Hits $420 Million As Kava Price Climbs Above $1
Investors are celebrating the listing on Coinbase by buying KAVA in droves. Price data by CoinMarketCap shows the trading volume soaring to $420 million in 24 hours, up a whopping 1,088%. Kava’s market cap has grown by another 10% to $393 million, with the token climbing to the 88th position.
Meanwhile, kava price is buoyant above the 100-day Exponential Moving Average (EMA) (in blue) as part of a bigger plan to stretch the leg toward $2.00. The momentum from the ‘Coinbase Effect’ faded on tapping the falling upper trendline, forcing bulls to step back for more liquidity.
Notice Kava price following the whim of a V-shaped recovery pattern, to reach $1.70. On the same chart, the Money Flow Index (MFI) reinforces the prevailing bullish presence in the market. Movement into the overbought region shows that more funds are flowing into Kava markets than all the total outflows.
Furthermore, the Moving Average Convergence Divergence (MACD) indicator dons a buy signal, reinforced by its position above the mean line. If the MACD upholds this northbound motion, Kava price will build momentum for gains to $1.70 and $2.00, respectively.
On the other hand, it is essential to keep an open mind because a pullback could gain traction below the 100-day EMA. Traders who may be looking forward to shorting KAVA, may do so following a confirmed break and hold below $1.00. From here, they may target profit booking at the 50-day EMA (in red), the next support at $0.70 and $0.52, respectively.
Kava is Bullish but These Altcoins Could Offer Bigger Returns
As investors consider which assets make their way into their 2023 crypto portfolios, they may be interested in up-and-coming altcoins with the potential to break out and return substantial gains. The tokens listed here are carefully selected and possess the necessary fundamentals to play a significant part in the future of crypto while revolutionizing other industries.
Meta Masters Guild (MMG)
The team behind this ambitious play-to-earn (P2E) is banking on a simple yet critical approach to curve its way into the fast-growing crypto sector. Meta Masters Guild wants to offer blockchain-based games for free, unlike existing platforms like Axie Infinity, The Sandbox, and Decentraland, which require users to invest money in expensive NFTs before getting started.
Despite offering the games at no cost, Meta Masters Guild will allow players to earn rewards for their time in the games.
Players in the Meta Masters Guild’s world will earn via a currency dubbed Gems, spent in various ways. For instance, a player can swap Gems to MEMAG tokens to stake for more rewards.
🔥 BOOM! Over $550K Raised #MEMAGFAM! 🔥
🤯 Over $50K raised in a day – Let's keep the momentum going! 💪
🚨 Stage 2 is live, so grab your $MEMAG tokens before the price increases! 🚀
https://t.co/SBqVjX5mWn#mmg #memag #memagpresale pic.twitter.com/ZFH7sB3fJb— Meta Masters Guild Games (MEMAGX) (@MEMAGgames) January 18, 2023
The Gems can also buy in-game NFTs or cash out by swapping to other cryptos like ETH. Investors are filling their wallets with MEMAG tokens in an ongoing presale that has raised $626k so far.
FightOut (FGHT)
As the world’s population becomes more health conscious, there is a need to incentivize the fitness lifestyle. FightOut is Move-to-Earn (M2M) fitness app and gym chain, gamifying the fitness lifestyle.
Users on the platform are rewarded for completing workouts and challenges. They also earn badges and grow within a vibrant ecosystem.
FightOut’s presale has raised $3 million far ahead of its first confirmed listing on the LBank Exchange. Investors can still buy FGHT tokens via the link below to take advantage of a 50%-time limited bonus.
C+Charge (CCHG)
For a long time, the carbon credit industry has been preserved for big corporations. However, C+Charge believes that every electric vehicle (EV) driver should also benefit. The crypto platform is launching with a mobile application and charge stations.
C+Charge is building a peer-to-peer (P2P) payment system to support electric vehicle charging stations using blockchain technology. Users on the platform can pay for charging services at stations globally with CCHG tokens stored in an electronic wallet.
C+Charge presale is in stage one, with 1 CCHG selling at 0.013 USDT. Over $307k has been raised since the presale started. Only 135 million tokens are left before the price increases to 0.0165 USDT.
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