DetectiveCatz is also bullish on KAVA. However, instead of the price action, he believes the Kava 15 upgrade can cause a price increase. He stated that:
$KAVA 15 is set to launch on December 7th Previous upgrades caused $KAVA to experience a pump. I’ve been monitoring it for quite some time, when the price was $0.6x, and during $WAVES pumping. With many coins built on Cosmos recently experiencing random pumps, such as $BLZ $OSMO $SCRT $IRIS $RUNE and $INJ most of them are pumping hard.
KAVA Price Prediction: How Long Will Increase Continue?
The daily timeframe chart shows that the KAVA price catalyzed the increase by breaking out from a descending resistance trend line. Such breakouts often indicate that the previous trend has ended and a new one has begun in the other direction.
The daily RSI is increasing and is above 50, both considered signs of a bullish trend. While the indicator is overbought, it has not generated any bearish divergence yet, which would indicate an impending decrease.
So, if the altcoin breaks out above $0.87, it can increase by 35% and reach the 0.618 Fib resistance at $1.06.
Despite this bullish KAVA price prediction, a breakdown from the ascending support trend line will invalidate the ongoing increase. KAVA can fall by 25% and reach the $0.60 support area in that case.
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In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions.