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COINTURK NEWS > Altcoin News > Decoding December Predictions for MultiversX (EGLD) and KAVA Coin: A Market Analysis
Altcoin News

Decoding December Predictions for MultiversX (EGLD) and KAVA Coin: A Market Analysis

In Brief

  • Preparing for major upcoming events is often overlooked by cryptocurrency investors, yet can lead to significant gains. The calendar is clear, and we’ve seen many times how big developments positively impact prices, with rallies gaining momentum as dates approach. But will it happen again?ContentsMultiversX (EGLD) December PredictionsKAVA Coin Price Analysis MultiversX (EGLD) December Predictions Cryptocurrency […]
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COINTURK NEWS 1 year ago
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Preparing for major upcoming events is often overlooked by cryptocurrency investors, yet can lead to significant gains. The calendar is clear, and we’ve seen many times how big developments positively impact prices, with rallies gaining momentum as dates approach. But will it happen again?

Contents
MultiversX (EGLD) December PredictionsKAVA Coin Price Analysis

MultiversX (EGLD) December Predictions

Cryptocurrency markets have experienced firsthand how the price is affected as the date of major developments approaches. Typically, prices rise leading up to the event, often following the “buy the rumor, sell the news” pattern, which then results in a price pullback. Investors must be informed about imminent events to prepare for both scenarios.

MultiversX (EGLD) is currently the fiftieth largest cryptocurrency, with voting still underway for its first protocol governance proposal. The voting, which started 7 days ago, will end on December 3, and we will see the implementation of the Sirius 1.6 Protocol upgrade. As of now, the proposal is passing with 98% support.

On the technical front, the price broke through the long-term trend line and reached a peak of $53.45. It then retreated to the $43 support area and the upward trend is still ongoing. If the rally reignites before December 3, the $63 level could be tested.

In the opposite scenario, if the “sell when the event occurs” motto comes into play and there are closings below $43, a 25% loss could occur.

KAVA Coin Price Analysis

KAVA Coin, the sixty-eighth largest cryptocurrency with a market capitalization of $747 million, will experience a significant event on December 15. KAVA 15 includes surprise enhancements. The price, which broke free from a decreasing trend line 40 days ago, has since increased significantly. The upward movement peaked at $0.87 on November 11.

Despite some pullback, the price is maintaining support at $0.7. If the general market sentiment doesn’t see major disruptions, the psychological resistance of $1 could be targeted. However, if the $0.7 support is lost, losses could deepen to $0.57, amounting to a 25% decrease.

Bitcoin‘s price performance will be extremely important up until mid-December. No serious pressure is expected on the macro front unless negative rumors about the Binance deal emerge. Markets will remain stable unless the MTGOX FUD shakes them or, as rumored these days, a new operation starts targeting stablecoins following the Binance operation.

  • Major events can drive crypto profits.
  • MultiversX (EGLD) vote influences prices.
  • KAVA Coin eyes key December event.
You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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COINTURK NEWS 30 November, 2023 - 10:39 pm 30 November, 2023 - 10:39 pm
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