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๐ Analysis KAVA/USDT
On the weekly chart, the asset is forming a narrowing triangle ๐ป, and the price is moving in a descending channel.
Support โ $0.35โ0.36 ๐ก๏ธ.
Resistances โ $0.41 / $0.46 / $0.51.
The Ichimoku Cloud remains bearish โ๏ธ, indicating a risk of continued decline, however, the triangle compression increases the likelihood of a strong breakout in the coming months โก.
๐น Fundamentals: Kava โ๏ธ is a Layer-1 blockchain that combines the power of the Ethereum ( EVM ) ecosystem with the speed and scalability of Cosmos ๐. This architecture provides developers with the flexibility to create applications that simultaneously utilize ETH liquidity and cross-chain capabilities of Cosmos ๐.
๐ In the long term, Kava has potential due to its unique combination of EVM + Cosmos, but in the short term, the market is waiting for confirmation of a breakout from the triangle.