KAVA Technical Analysis: Bulls Eye $5 With Breakout Intentions

KAVA coin price breaks above the $4.65 mark after retesting the 200-day EMA with long-tail formations. Will the uptrend sustain to surpass $5? Key technical points: KAVA prices have increased by 6.82% in the past 24 hours. In addition, 50 and 100-day EMA are eager for a bullish crossover. Finally, the 24-hour trading volume of Kava is $148 Million, marking a 16.55% rise. Past Performance of KAVA KAVA coin price showcased a bullish rally from the $3 support level accounting for a jump of 50% jump within three weeks. However, the rally failed to surpass the barrier of $4.65 leading to a consolidation followed by a bearish breakout. The downtrend tested the 200-day EMA before reversing to reach the $4.65 mark with a bullish engulfing candlestick. Source-Tradingview KAVA Technical Analysis KAVA coin price gave a consolidation fallout near the $4.65 mark resulting in the 200-day EMA retest. The bulls regain the trend control with the morning star pattern with a bullish engulfing candlestick of 8.71% formed at the 200-day EMA. The bearish aligned EMAs in the daily chart feel the bullish pressure resulting in an upside reversal and increasing the chances of 50 and 100-day EMA. Moreover, the price sustaining above all the crucial EMAs increases the chances of bullish continuation. RSI Indicator: The RSI slope slipped through the overbought territory and cracked beneath the 14-day SMA during the consolidation fallout. However, the rece...