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...