KAVA price action shows a bullish reversal with substantial lower price rejection from $1.35, resulting in a 30% rise. Will the uptrend reach $3?

Key technical points:
<ul>
 	<li style="font-weight: 400">The KAVA prices grew by 7.37% last day.</li>
 	<li style="font-weight: 400">The crucial EMAs retake bearish alignment.</li>
 	<li style="font-weight: 400">The 24-hour trading volume of KAVA is $141 Million, indicating a 125% hike. </li>
</ul>
<h2>Past Performance of KAVA</h2>
On 28th April, KAVA price action shows a bullish failure to break above the rounding bottom breakout, as we mentioned in our <a href="https://www.cryptoknowmics.com/news/kava-technical-analysis-crazy-buying-spree-reaches-5-65">previous analysis</a>, with the neckline at $5.65. The defeat led to a 70% fall within a fortnight, reached the $1.35 support level, and influenced huge bearishness on the crucial EMAs. 

However, the falling trend reverses abruptly as buyers take trend control at $1.35 and form a morning star pattern inflating market value by 30%.

<img src="https://s3.tradingview.com/snapshots/y/yFliKR8j.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/yFliKR8j/">Tradingview</a>
<h2>KAVA Technical Analysis </h2>
With the buyers rewriting the KAVA/USD chart, the increase in trading volume reflects a boom in buying pressure. Hence, the possibility of floating market value above $3 increases.

The sideways trend of the crucial daily EMAs develops a bearish alignment under the increased selling pressure displaying the start of a correction phase. Hence, the EMAs gain a bearish spread after the recent crossovers.

The RSI slope challenges the 14-day average that has fueled the downtrend after exiting the oversold zone but leads into a sideways trend. Furthermore, the Stochastic RSI displays a new bull cycle in action as the K and D lines start to rise in the neutral territory.

Therefore, the momentum indicators project a rise in underlying bullish momentum ready to fuel the uptrend.

In short, the KAVA technical analysis displays a high possibility of an uptrend to $3.
<h2>Upcoming Trend</h2>
Presuming the uptrend undermines the higher price opposition with increased buying pressure, traders can expect the rally to reach $3. However, a failure to do so will result in a reversal back to the support level at $1.50 or even $1.35.

Support Levels: $1.50 and $1.35

Resistance Levels: $2.50 and $3

&nbsp;

KAVA Technical Analysis: Reversal Rally Attempts To Cover Bullish Failure 

KAVA price action shows a bullish reversal with substantial lower price rejection from $1.35, resulting in a 30% rise. Will the uptrend reach $3?

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;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.

KAVA Technical Analysis: Reversal Rally Attempts To Cover Bullish Failure

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