Kava's Price Soars to $1.1 following Coinbase Listing - Is It Worth Investing in This Crypto Now?
Hop on our Telegram channel to stay abreast of the latest breaking news and exciting developments in the crypto world!
KAVA's price soared after hitting several resistance levels, thanks to increased attention on the coin, primarily due to its listing on Coinbase exchange. This listing, announced on January 18, 2023, sent Kava's price rocketing past $1.00 for the first time in over two months.
KAVA's ascent didn't come easy, however; buyers had to battle an intense seller congestion zone, approximately at $0.80. Coinbase's addition of KAVA as a tradable asset on their platform provided the much-needed momentum to move past this hurdle.
As we speak, KAVA trades slightly above 9% up at $1.02, during the early hours of the European session on January 19, 2023. Bulls are on the lookout for solid support to prevent any potential setbacks to levels like $0.70 and $0.52.
Coinbase Steps In, KAVA Soars
KAVA's price surged significantly after a statement from Coinbase Assets. The US-based exchange informed that it would support KAVA on the Kava network. Inbound transfers for KAVA were already supported on Coinbase and Coinbase Exchange, where trading is allowed.
However, investors were warned to be cautious while transferring tokens, as sending them over other networks might result in losing their funds.
Trading of KAVA against the US dollar was set to go live on January 19, 2023, at 9:00 a.m. Pacific Time, once the desired liquidity had been met. Coinbase Assets highlighted that support for KAVA might be restricted in some regions, as outlined by their statement.
Trading Volume Hits Gвала Starting January 19, KAVA/USD Pair Likely to Launch in Phases
Investors were quick to capitalize on the listing on Coinbase, causing the trading volume to skyrocket to $420 million within 24 hours, up a staggering 1,088%. As a result, KAVA's market cap grew by 10%, placing it at $393 million and the 88th position.
Kava's price remains above the 100-day Exponential Moving Average (EMA), which is part of a broader plan to expand upward to $2.00. Nevertheless, the momentum slowed upon reaching the falling upper trendline, forcing bulls to take a breather and reevaluate strategies.
On the same price chart, the Money Flow Index (MFI) bolstered the bullish sentiment, indicating that more money is flowing into the Kava market compared to outflows. This momentum hints that Kava's price could recover to $1.70 and potentially reach $2.00 if the MACD maintains its upward trajectory.
However, a pullback could develop below the 100-day EMA. Traders looking to short KAVA might do so following a confirmed break and hold below $1.00, targeting potential profit points at the 50-day EMA, $0.70, and $0.52, respectively.
Kava - A Bold Move into the Metaverse?
As crypto enthusiasts gear up for building their 2023 portfolios, there are several emerging projects that have the potential to post substantial gains. Three such promising altcoins are Meta Masters Guild (MMG), FightOut (FGHT), and C+Charge (CCHG) - each catering to different industries.
Meta Masters Guild (MMG)
By offering free gaming experiences and rewarding players for their time and involvement, MMG could revolutionize the gaming industry. Players can earn rewards using the in-game currency, Gems, which can be exchanged for MEMAG tokens for increased rewards.
MMG is currently in an ongoing presale, which has already raised $626k in funds.
FightOut (FGHT)
Targeting the growing health consciousness among the global population, FightOut is an innovative Move-to-Earn (M2E) fitness app and gym chain. Users can earn rewards by completing workouts and challenges while engaging within a community and accumulating badges.
FightOut's presale has amassed $3 million, quickly moving ahead of its planned first exchange listing on the LBank Exchange.
C+Charge (CCHG)
C+Charge intends to build a decentralized global network for electric vehicle (EV) charging stations. The platform aims to provide a peer-to-peer (P2P) payment system for charging services, fostering sustainable energy adoption. Users can pay for charging sessions using CCHG tokens stored in their digital wallets.
The C+Charge presale is currently in the first stage, with each CCHG token available at 0.013 USDT. Over $307k has been raised since the presale kicked off, with only 135 million tokens left before the price increases to 0.0165 USDT.
Join Our Telegram channel to stay tuned for more breaking news and exciting updates in the cryptocurrency landscape!
- In the rapidly evolving world of technology, blockchain technology continues to play a significant role in the finance sector, as seen with Kava's price surge after its listing on Coinbase exchange.
- Kava's impressive rally was propelled by heightened interest from investors following its inclusion on Coinbase, with trading volume reaching an astronomical $420 million within 24 hours, marking a staggering 1,088% increase.
- Although Kava's price has hovered above the 100-day Exponential Moving Average (EMA), potential setbacks could emerge if the momentum slows or the price falls below this level, triggering opportunities for those looking to short KAVA.
- Apart from Kava, other promising altcoins such as Meta Masters Guild (MMG), FightOut (FGHT), and C+Charge (CCHG) are garnering attention for their positive impact on various industries, like gaming, fitness, and electric vehicle charging.
- As these projects make progress in their respective presales and developments, staying abreast of the latest news through our Telegram channel will ensure investors don't miss out on potential investment opportunities in the ever-evolving crypto market.
