KAVA 15.0 Upgrade and its Impact on KAVA Price

KAVA has been on the rise since October, breaking through a descending resistance line but facing a challenge at the Fibonacci resistance level. The weekly chart indicates a steady increase in KAVA's price throughout the year, reaching a peak of $1.55 in May. However, it struggled to surpass the $1.10 resistance area, forming a long upper wick and experiencing a subsequent decline.

The culmination of the downward trend occurred in October, marking a minimum of $0.55. This minimum is noteworthy as it formed an ascending minimum (green markers) compared to the beginning of the year. Since then, the price has formed four consecutive bullish weekly candles.

This week, the KAVA team announced the upgrade of their mainnet to version 15.0, with the highly anticipated launch scheduled for December 7th. This is expected to be a significant milestone, offering expanded capabilities for developers and stakers alike.

Cryptocurrency trader Cryptoknight890 predicts a potential price increase to $1 due to the breakthrough of long-term resistance. Analyst Muneeb shares a bullish forecast, attributing the price recovery above the horizontal resistance area as a growth catalyst. DetectiveCatz is optimistic about KAVA's future, focusing on the impact of the Kava 15 upgrade, noting its historical influence on price pumps.

On the daily chart, the breakthrough of the descending resistance line serves as a growth catalyst, indicating a potential shift in the trend. The coin followed a steep ascending support line, reaching the $0.87 resistance area (Fibonacci 0.382 correction level) but faced difficulty breaking through. The daily RSI is rising, above the 50 marks, signaling a bullish trend.

If the price surpasses $0.87, a 35% growth to the Fibonacci 0.618 resistance level at $1.06 is possible. However, a bearish breakthrough of the ascending support line could lead to a 25% decline, reaching the $0.60 support area.