#Will ETH follow Bitcoin price trajectory upon its ETF trading available?

🛑 Analysis #KAVA /USDT 🛑

The KAVA/USDT chart demonstrates a complex dynamics with a number of important technical levels and signals. Let's go over the key points.

Technical Analysis
Support and resistance:

Support: Level $0.5625 - $0.6309 is marked as a key support zone.
Resistance: Level $0.8500 - $0.8500, as well as the important level $1.1352 and above $2.3597.
Patterns and trends:

Triangle: The chart shows the formation of a contracting triangle, which can break out in any direction.
Long-term consolidation: KAVA is in a long-term consolidation zone, which may result in a strong movement upon a breakout.
Indicators:

Ichimoku: The Ichimoku Cloud shows that the price is within the cloud, indicating market uncertainty.
Parabolic SAR indicates a possible downtrend.
Moving Average (99): The Moving Average (99) acts as a resistance level at $0.7505.
Volume:

Trading volume is 420.994K, indicating significant activity.
Trend Strength Index (14):

The Trend Strength Index shows a value of -0.1793, indicating a bearish sentiment.
Forecasts and goals
"Bullish scenario:"

When the resistance level of $0.7505 is breached, there is a possibility of a rise to $1.1352 (+63.07%), and further to $1.6646 (+239.05%).
Bear Market Scenario:

If the price breaks the support level $0.5625, a significant decline to lower levels is possible.
Conclusion
KAVA/USDT demonstrates signs of consolidation and uncertainty in the market. Traders are recommended to closely monitor key support and resistance levels, as well as indicator signals. A breakout in any direction can lead to significant price movement.

🛑 Stay tuned for updates and be prepared for volatile movements in the KAVA market! 🛑