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Vikram
Apr 15, 2022
by Vikram

KAVA Technical Analysis: Trend Reversal Teases $5 Breakout

KAVA
KAVA coin price shows a sudden reversal in trend after finding demand near the $4 mark with the help of merged EMAs. Will the trend reversal reach $5?

Key technical points:

  • The reversal trend surpasses the 200-day EMA.

  • The KAVA coin price has increased by 1.20% within the last 24 hours.

  • Finally, the 24-hour trading volume of Kava is $123 Million, marking a 68% rise.

    • Past Performance of KAVA

    The KAVA coin price action shows a morning star pattern formation near the support confluence of the $4 support level and the merged 50 and 100-day EMAs. The reversal surpasses the 200-day EMA and $4.25. However, the daily candles showcase higher price rejection in the daily candles, reflecting a bearish influence. 

    TradingView Chart

    KAVA Technical Analysis 

    KAVA coin price sustains above the $4 mark and reverses the downfall as mentioned in our previous article. Hence, the bulls defuse the double top fallout possibility and might surpass the $4.65 marks shortly.

    The crucial daily EMAs strive to gain a bullish alignment as the merged 50 and 100-day EMAs are ready for a bullish crossover. Hence, the uptrend in the EMAs increases the chances of a golden crossover.

    RSI Indicator: The RSI slope regains the bullish momentum and halts the downtrend before cracking the halfway milestone. The reversal trend is approaching the 14-day average line and might shortly surpass it.

    MACD Indicator: The MACD and signal lines show a diagonal trend in the daily chart approaching the zero line after the recent bearish crossover. Moreover, the falling distribution of the MACD histograms reflects a fall in underlying bearishness.

    In a nutshell, the KAVA technical analysis spotlights the chance of a bullish trend surpassing the $5 mark.

    Upcoming Trend 

    The KAVA/USD daily chart shows a bullish reversal from the merged EMAs near the psychological barrier of the $4 mark. Moreover, the morning star pattern increases the chances of a trend reversal with the possibility of the $5 breakout.

    Support Levels: $4 and $3.5

    Resistance Levels: $4.65 and $5

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    KAVA Technical Analysis: Trend Reversal Teases $5 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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