KAVA Technical Analysis: Returning Sellers Warn $2.25 Fallout 

Key technical points:

Past Performance of KAVA

After the extreme selling observed in early May, KAVA prices crumble beneath the psychological mark of $2 to take support at $1.66. The buyers overtook the control at the crucial support resulting in a sharp V-shaped reversal to test the overhead resistance at $2.85. Furthermore, the recovery rally results in the generation of a consolidation range, with the bottom support at $2.25.

Source- Tradingview

KAVA Technical Analysis

KAVA prices struggle to surpass the resistance trendline and reach the overhead resistance trendline due to the higher price rejection near the trendline. The restarting bear cycle with an evening star pattern, a retracement to the bottom support at $2.25. The falling EMAs maintain a bearish alignment representing a solid correction phase in motion. Moreover, the 50-day EMA (red) provides resistance to the bullish recovery.

The MACD and signal lines continue moving higher as they approach the zero line after the recent bullish crossover during the V-shaped reversal. However, a falling trend in the MACD histograms represents a weakness in the underlying bullishness. Furthermore, the RSI indicator shows a dip under the 14-day SMA after failing to surpass the halfway line. In a nutshell, the KAVA technical analysis shows a high likelihood of a bearish retracement under the $2.25 mark.

Upcoming Trend

If the extending selling pressure the downfall will break under the $2.25 mark, and the bearish spiral can breach the psychological mark of $2.

Resistance Levels: $2.85 and $3

Support Levels: $2.25 and $2