KAVA Technical Analysis: Bull Run Crosses $2, Soon To Challenge $2.85

Key technical points:

Past Performance of KAVA

KAVA price action shows the bearish downfall of the consolidation range between $2.25 and $2.85, reaching the bottom support at $1.35. However, the bulls quickly overtook the trend control to form a rounding bottom pattern and propel the prices higher above $2. The reversal rally accounts for a price jump of 37% over the past ten days and teases the $2.25 breakout.

Source- Tradingview

KAVA Technical Analysis 

The bullish breakout of the $2.25 wild rive the KAVA prices higher to the overhead resistance at $2.85. However, the trend may be going sideways to restart the consolidation range. Hence, traders must pay close attention to the price action near $2.85. The DMI indicator displays the DI lines trying to reclaim a positive alignment with a crossover. It is evident by the lines turning sideways turn following a dramatic decline in the bearish spread. But, a bullish crossover can boost the $2.25 breakout probability.

The RSI indicator indicates an improvement in the positive sentiment as the slope slowly turns from the oversold boundary to overtake halfway. Thus, the indicator has an overall bullish perspective. The MACD indicator displays positive trends in the fast and slow lines and continues to move towards the zero line. In addition, the rising trend of the MACD histograms indicates a growing trend in buying pressure. Hence, the technical indicators maintain an overall bullish view for KAVA and hint at the uptrend surpassing $2.25.

Upcoming Trend

If the buying pressure helps the KAVA prices sustain above $2.25, the uptrend will reach the overhead barrier at $2.85.

Resistance Levels: $2.25 and $2.85

Support Levels: $2.00 and $1.66