Kava (KAVA) appears to be showing several bullish signals. This comes even as the coin falls sharply from its recent rally. KAVA is currently looking to consolidate before its next bull run, and this could come sooner than you think. Here are the latest developments:
KAVA could surge towards $6.68 in the upcoming bull run
The coin is trading above a crucial support zone of $4.13.
KAVA is relatively closer to its ATH compared to other altcoins
Data Source: Tradingview
Kava (KAVA) – Can it hit $6.68
Unlike most altcoins in the market, KAVA has remained very resilient to recent market pressures. For instance, while most altcoins have fallen nearly 90% from their all-time highs, KAVA has done much better, trading about 45% lower than its ATH.
The coin is in a consolidation phase right now. If bulls hold the crucial support of $4.13, we are likely to see a bullish breakout in the near term that takes KAVA closer to the $6.68 mark. KAVA has also bounced back sharply from its 2022 lows. After tanking to around $2.55 in February, the coin has surged over 100% ever since.
We expect this bullish momentum to continue in the near term. KAVA is likely to soar past $5 in the days ahead before consolidating again and testing the $6.68 mark. If this happens, the coin will deliver gains of up to 55% from its current price.
Should you buy Kava?
Well, KAVA looks primed for a decent run in the weeks ahead. This would be the most ideal time to accumulate the coin. However, watch it for a few days.
If bulls are still able to keep the $4.13 support, then you can enter. Exit points should be around $5 and the $6 mark. As for the long-term investor, KAVA holds incredible fundamentals and should be a good addition to your portfolio.