<em><strong>KEY price shows a rising channel driving the market value higher but struggles to surpass $0.0050. Will the rising channel fail to give a bullish breakout?</strong></em>

Key technical points:
<ul>
 	<li>The KEY market value increased by 24.65% today at press time.</li>
 	<li>The buyers attempt to surpass the $0.050 barrier.</li>
 	<li>The 24-hour trading volume of SelfKey is $57.75 Million, indicating a hike of 628.91%.</li>
</ul>
<h2>Past Performance of KEY</h2>
The bullish failure to sustain above the 200-day EMA and the $0.0090 level led to a 75% dip in market value resulting in the fallout of $0.0050 and taking took support at the $0.0025 mark. The bullish reversal broke from the newfound support forms a rising channel pattern in the daily chart and accounts for a 96% jump within the last three weeks. However, the recent bullish failure to break above the resistance trendline kick starts another bearish reversal.

<img src="https://s3.tradingview.com/snapshots/w/wlPuDYh9.png" alt="TradingView Chart" />

<strong>Source-</strong> <a href="https://www.tradingview.com/x/wlPuDYh9/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>KEY Technical Analysis</h2>
KEY/USD price chart shows a bear cycle in the rising channel with a higher price rejection reflecting growth in selling pressure. Hence, the chances of a free fall crossing below the support trendline increase drastically. The RSI slope shows a gradual uptrend starting from the oversold territory and surpasses the 14-day SMA and the halfway line to enter the nearly overbought zone. Moreover, the lack of bearish divergence supports the possibility of uptrend continuation.

The MACD indicator shows a textbook uptrend in the fast and slow lines as they approach to zero line to cross into the positive territory. Furthermore, the varying intensity of MACD histograms sustains the uptrend reflecting a sustained buying pressure. In a nutshell, KEY <a href="https://www.cryptoknowmics.com/news/ada-technical-analysis-buyers-are-alive-and-kicking/">technical analysis</a> shows a much more likely possibility of an uptrend continuation crossing $0.0050.
<h2>Upcoming Trend</h2>
The $0.0050 breakout will signal a buying spot for bullish aligned traders as the breakout rally can push the KEY market value up by 20% to reach $0.0060. Moreover, buyers can expect a sustained buying pressure resulting in the $0.0060 breakout to test $0.0075 close to the 200-day EMA.

<strong>Resistance Levels:</strong> $0.0050 and $0.0060

<strong>Support Levels:</strong> $0.0035 and $0.0025

&nbsp;

KEY Technical Analysis: Rising Channel Struggles To Reach $0.0050

KEY technical analysis shows a rising channel driving market value higher but struggles to surpass $0.0050. Will the rising channel give a bullish breakout?

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.

KEY Technical Analysis: Rising Channel Struggles To Reach $0.0050

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