KAVA/USDT: continuation of price discovery mode looks likely
KAVA/USDT has clearly broken above all prior resistance levels on the weekly and daily timeframes.
In my view, if we continue to experience sideways action with a slightly bullish bias (largely due to positive traditional market sentiment, not BTC), it would be unsurprising if KAVA experiences parabolic price action over the next couple of days as traders and investors seek a new price range. Another possibility would indicate a bearish retest of the breakout. Considering the strength of the move up, I would suspect that the recent breakout level would easily hold and possibly allow for a second entry point if the original breakout was missed.
As always, keep an eye on king BTC and overall market sentiment, and regarding the KAVA project fundamentals specifically, DYOR. Congrats bulls and good luck.
In my view, if we continue to experience sideways action with a slightly bullish bias (largely due to positive traditional market sentiment, not BTC), it would be unsurprising if KAVA experiences parabolic price action over the next couple of days as traders and investors seek a new price range. Another possibility would indicate a bearish retest of the breakout. Considering the strength of the move up, I would suspect that the recent breakout level would easily hold and possibly allow for a second entry point if the original breakout was missed.
As always, keep an eye on king BTC and overall market sentiment, and regarding the KAVA project fundamentals specifically, DYOR. Congrats bulls and good luck.