Crypto-Follow logo Crypto-Follow logo
Cryptoknowmics 2022-04-21 09:24:28

KAVA Technical Analysis: Range Breakout Eyes $6 Breakout

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. Source-Tradingview 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 a...

#
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer