While the top ten cryptocurrencies remain relatively stable, the KAVA token has been exceeding investors’ expectations, fulfilling their hopes. The recent KAVA 13 upgrade has acted as a catalyst, leading to a remarkable gain of nearly 60% in May, leaving investors in a celebratory mood amidst these positive circumstances.
After experiencing buying pressure for the past three weeks, the price of the KAVA token witnessed a surge in bullish activity today. In just two trading sessions this week, the price spiked by over 20% as bulls regained their aggressive stance.
The KAVA/USD pair displayed exceptionally high volatility today, despite the absence of any significant news. This bullish momentum follows a period of decline following the KAVA 13 upgrade.
Currently, the KAVA token is trading at around $1.2, showcasing an impressive overnight gain of 15%. Within a matter of minutes, KAVA experienced a surge of nearly 40%, climbing from $1.096 to $1.55. However, this sudden jump has since retraced by half of its initial gain.
Trading volume has seen a remarkable surge of almost 100%, reaching a substantial $83.5 million, as reported by CoinMarketCap. The KAVA token has triumphantly overcome major bullish challenges, surging to its highest point in a year, reaching an impressive $1.550.
At present, all significant moving averages lie well below the current trading price. The $1.6 level seems to be the upcoming resistance zone.
The daily RSI has entered the extreme overbought zone, with its peak currently at a range of 73. The MFI indicator also indicates a higher zone. Both technical indicators portray a positive environment for the KAVA token. The focus now shifts to whether the bulls can maintain the KAVA price above the recent support level of $1.1.