KAVA 1h analysis

After breaking the top of the Fib Channel (1.0), KAVA grows to 1.618. it is in a correction mode now. in this movement, a range region is formed where is defined in blue. The price hit the bottom of the channel where it coincides with the 0.618 of the Fib Channel. Therefore, one can consider it as strong support. it may support the price to the middle and top of the channel. However, breaking the support leads to a decrease of the price to 0.5 and 0.23

Trade closed: target reached:

KAVA hit the first target