KAVA is approaching the $7 support area after being strongly rejected at the $9 zone. The $7 zone is a strong and important support zone at the moment for KAVA as it can help KAVA rise sharply to the $10 and $14 zones in September. But if it loses this zone, it will fall sharply to the $5.5 zone

📈RED PLAN
🔴Buy : 6.8-7.2$. SL if B
📉BLUE PLAN
🔴Sell : 9.75-10.25$. SL if A 🔴Sell : 13.7-14.3$. SL if A
🟣PURPLE PLAN
🔵Sell : 6.8-7.2$ if B. SL if A 🔵Buy : 5.35-5.65$. SL if B
❓Details
📈Red Arrow : Main Direction as BUY & SELL section 📉Blue Arrow : Back-Up Direction as BACK-UP section 🟩Green zone : Support zone as BUY section 🟥Red zone : Resistance zone as SELL section 🅰️A : The Close price of 1-day candlestick is Above the zone 🅱️B : The Close price of 1-day candlestick is Below the zone

  • Kava aims to become the default DeFi platform by providing stablecoins and decentralized lending against all major crypto assets.
  • Kava utilizes Cosmos and operates with a Tendermint-based Proof-of-Stake (PoS) consensus mechanism. At its core, Kava relies on a system similar to MakerDAO with CDPs but leverages the zones from Cosmos to add cryptocurrencies running on independent networks (e.g., XRP, Bitcoin).
  • Kava relies on two main tokens: KAVA and USDX (Kava's stablecoin). Besides its stablecoin USDX, Kava features a governance token, KAVA, that is further staked in bonding curves of network validators. It is also used when Kava acts as a lender of last resort.
  • The platform has three primary use-cases:
    • Users can draw USDX, Kava's stablecoin, by locking collateral in a smart contract.
    • They may stake USDX for a yield.
    • Users may take out a series of collateralized loans to create synthetic leverage for any supported crypto asset. For instance, it is possible to lock XRP and mint USDX to buy XRP, hence creating a leveraged long position on XRP.