KAVAUSD Supported by the 1D MA50/ aiming at $11.50
Kava (KAVAUSD) is having a strong bounce on the 1D time-frame, with the 1D MA50 (blue trend-line) supporting. This is similar to January - March 2021 bullish leg that made a Higher High on the long-term Channel Up.
The Fibonacci retracement levels within the Channel Up play a critical part as you see. The last Higher Low was made on the 0.786 level and since March 28 the price has been trading within the 0.5 and 0.618 level.
As long as the 1D MA50 supports, the price action will form a Golden Cross. The medium-term target on that is the 1.236 extension around $11.50.
*Note: The MACD on the 1W time-frame is already on a Bullish Cross. Always a sign leading to a rally.
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The Fibonacci retracement levels within the Channel Up play a critical part as you see. The last Higher Low was made on the 0.786 level and since March 28 the price has been trading within the 0.5 and 0.618 level.
As long as the 1D MA50 supports, the price action will form a Golden Cross. The medium-term target on that is the 1.236 extension around $11.50.
*Note: The MACD on the 1W time-frame is already on a Bullish Cross. Always a sign leading to a rally.
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** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
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