An asset worthy of attention for investment right now - KAVA. A token that was purchased from us back in January 2024, with 50% sold at that time for a profit of +30.38%. The rest is kept for the future.
Unlike most assets, #KAVA has not yet shown truly explosive growth in 2023-2024. Moreover, in mid-November, the price transitioned to a stable uptrend for the first time (!) in this cycle, according to our indicator. Before that, it had almost fully worked off all targets from the previous cycle's growth correction.
Since returning to a stable uptrend on the weekly time frame, the price has already hit two base targets and is approaching the third. The price is still in the accumulation range. However, after breaking the 50 EMA on the weekly time frame, it is now targeting the 200 EMA of this time frame (currently at $1.5708) and the 50 EMA of the monthly time frame (currently at $1.6357).
In the local picture since June, the price has formed a rounded bottom and is now around the neckline level. It has formed a 'Golden Cross' with the 50 and 200 EMA on the daily time frame. It would be optimal to wait for a correction after the growth of November-December and a test of these EMAs. But when this might happen, given the absence of a correction signal according to our indicator even on the 4-hour time frame, is hard to say for now.
The current growth potential on the weekly time frame, if the trend is maintained, is at least until the end of December.
We are currently waiting for the high on the asset around May-July next year.
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#Kava is a cross-chain DeFi platform that unites the #Cosmos and #Ethereum ecosystems. It allows borrowing stablecoins #USDX and depositing cryptocurrencies to earn income.
The #KAVA token serves governance, staking, and reserve functions to cover collateral shortfalls.
Since 2022, the platform has supported smart contracts based on Ethereum, which expands access to DeFi tools and attracts developers.