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Vikram
Apr 21, 2022
by Vikram

KAVA Technical Analysis: Range Breakout Eyes $6 Breakout

KAVA
KAVA coin price action gives a consolidation breakout and surpasses the $5 mark teasing a potential-jump to $6. Should you join the breakout rally?

Key technical points:

  • A bullish crossover is seen in the MACD indicator. 

  • In addition, the 50 and 200-period EMA give a Golden crossover. 

  • Finally, the 24-hour trading volume of Kava is $295.65 Million, marking a 554% rise.

    • Past Performance of KAVA

    KAVA coin price action increased sharply after finding support at the $3 mark to breach the psychological barrier of $5. The border halted the uptrend for a few days resulting in a consolidation range. However, the recent bullish engulfing candlestick breaks above the psychological mark to reinstate the uptrend.

    TradingView Chart

    KAVA Technical Analysis 

    KAVA coin price surpasses all the crucial EMAs to break above the consolidation range and undermines the higher price rejection offered at $5. Moreover, the bullish candle engulfed the entire range formation representing a surge in underlying bullishness.

    The significant inflation in the coin price outperforms all the crucial EMAs and brings a bullish reversal in the averages. The degeneration accounts for a golden crossover and increases the overall bullish attention for the token.

    RSI Indicator: The reversal in the RSI slope comes after the downfall from the overbought territory. Hence, the indicator shows a boom in underlying bullish momentum.

    MACD Indicator: The crossover of the MACD and signal lines give a bullish entry signal as it coincides with the consolidation breakout. Moreover, the bullish histograms are on the verge of initiating an uptrend.

    In a nutshell, the KAVA technical analysis highlights high momentum breakout rally ready to surpass $6.

    Upcoming Trend 

    The KAVA coin price shows a boom in buying pressure as the uptrend surpasses the $5 psychological barrier and breaks above the consolidation range. Moreover, the golden crossover adds points to the bullish continuation theory of uptrend surpassing the $6 mark. Hence, a buying spot illuminates the current market price.

    Support Levels: $4.85 and $4.00

    Resistance Levels: $5.65 and $6.75

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    KAVA KAVA Token
    KAVA Technical Analysis: Range Breakout Eyes $6 Breakout
    Vikram
    Vikram is a technical analyst with several years of experience in the crypto market & Indian Equity and F&O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

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