KAVA Technical Analysis: Crazy Buying Spree Reaches $5.65
Key technical points:
Past Performance of KAVA
KAVA coin price shows a remarkable, bullish reversal from the 200-day EMA, accounting for a 27% inflation within a week. The bull run creates multiple bullish engulfing candlesticks to reach the $5.65 level. Moreover, the increased trading volume compared to previous weeks indicates the higher possibility of an uptrend above the resistance.
Source-Tradingview
KAVA Technical Analysis
KAVA price action tests the previous swing high and struggles for a bullish breakout despite the increased bullish momentum. However, traders can expect a breakout rally to reach the $6.85 level.
The crucial daily EMAs maintain a bearish alignment, but the 50 and 200-day EMAs are ready for a golden crossover. Hence, the gradual reversal in the EMAs might shortly attain a bullish alignment.
MACD Indicator: The fast and slow lines maintain an uptrend after the bullish crossover, with a solid uptrend in the MACD histograms.
RSI Indicator: The RSI slope enters the overbought territory after surpassing the 14-day average.
Hence, the technical indicators reflect a solid bullish trend with increased buying pressure.
In a nutshell, the KAVA technical analysis forecasts an uptrend continuation above the $5.65 mark.
Upcoming Trend
KAVA coin price experiences a surge in the underlying bullish momentum but struggles to surpass the swing high of $5.65. However, the increased buying pressure projects a potential bullish breakout to reach the $6.85 level.
Resistance Levels: $5.65 and $6.85
Support Levels: $5 and $4.65
