KAVA Technical Analysis: EMAs Halt Bearish Trend Near $4

KAVA coin price hinges on the merged 50 and 100-day EMAs after a recent rejection from the resistance trendline. Will the EMAs crack under bearish pressure? Key technical points: The KAVA price action shows higher price rejection at the $4.50 mark. The EMAs retain the bearish alignment in the daily chart. Finally, the 24-hour trading volume of KAVA is $98.03 Million, marking a 17.86% fall. Past Performance of KAVA KAVA coin prices find a surge in buying pressure near the $3 mark resulting in the 65% rally to reach the resistance trendline. Finally, the rally broke above the $4 mark and all the crucial daily EMAs but failed to sustain above the $4.5 mark resulting in the reversal from the trendline. Source-Tradingview KAVA Technical Analysis KAVA coin prices gave a double top fallout near the resistance trendline resulting in the retracement closer to the $4 mark. However, lower price rejection after the 12% bearish engulfing candlestick hairs the downtrend and toys a reversal possibility. The crucial daily EMAs maintain a bearish alignment in a slight uptrend and with the merged 50 and 100-day EMAs providing support to the downtrend. Hence, a reversal will ensure a bullish crossover and increase buying attention. RSI Indicator: The RSI slope shows a downtrend from the overbought boundary to the halfway line with the 14-day SMA breakout. Hence, the indicator shows a gradual growth in selling pressure. MACD Indicator: The MACD a...