KAVA just delivered a strong impulsive move on the 4H chart, surging over 20% and tapping into a major supply zone around the $0.064–$0.066 region.
This area previously acted as resistance, and price has now wicked directly into it a classic reaction zone where sellers may step back in. The sharp vertical rally suggests aggressive short-term buying, but sustainability will depend on how price behaves around this supply.
If $KAVA can consolidate above $0.058 and build higher lows, a breakout through $0.066 could open the door for further upside expansion.
However, rejection from this zone may lead to a pullback toward the $0.050 region before the next major move. #bullish
This area previously acted as resistance, and price has now wicked directly into it a classic reaction zone where sellers may step back in. The sharp vertical rally suggests aggressive short-term buying, but sustainability will depend on how price behaves around this supply.
If $KAVA can consolidate above $0.058 and build higher lows, a breakout through $0.066 could open the door for further upside expansion.
However, rejection from this zone may lead to a pullback toward the $0.050 region before the next major move. #bullish