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Kava / TetherUS PERPETUAL CONTRACT
Short
Updated

descending channel chart Analysis on KAVA/USDT


Pattern Formation
The chart shows several critical patterns:
- Descending Channel: The blue lines indicate a descending channel, which typically suggests a bearish trend continuation.

Volume Profile Analysis
- High Volume Nodes: High trading volume is present around the 0.4340 resistance level, suggesting strong selling pressure at this point.

Price Action Analysis

1. Top Right (1-Month Candle Chart):
- Trend: The monthly chart shows a consistent downtrend with recent strong bearish candles.
- Candlestick Patterns: The last few monthly candles show lower highs and lower lows, reinforcing the bearish trend.

2. Mid Right (2-Week Candle Chart):
- Trend: The 2-week chart continues to show a bearish trend, with the price making lower highs and lower lows.
- Candlestick Patterns: The recent candles are predominantly red, confirming the ongoing selling pressure.

3. Bottom Right (Weekly Candle Chart):
- Trend: The weekly chart indicates a downward trend, with recent candles showing strong bearish momentum.
- Candlestick Patterns: The mixed red and green candles in the latest weeks suggest some consolidation within the overall downtrend.

Disclaimer
This analysis is provided for informational purposes only and should not be considered financial advice. Trading financial instruments involves risk, and you should perform your own research and analysis before making any investment decisions. Always consult with a professional financial advisor.
Trade closed: target reached
TJalam
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Chart Patterns
TJalam
Learning to trade and coding my strategies in Pine Script. Passing Prop Firms. DM me for any inquiries.
Buy me coffee at:
paypal : tabrejalam786007@gmail.com
BTC : 15zY6PUsrV55UQvcfaSqk5hJexKZAwhpcK
Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.