KAVA Technical Analysis: Reversal Rally Soon To Cross $4

KAVA price chart shows a remarkable increase in demand supported by a boom in trading volume resulting in the breakout of $3. Key technical points: The KAVA market value increased by 17.84% in the last 24 hours. The reversal rally starts with the breakout of a rounding bottom pattern. The 24-hour trading volume of KAVA is $219 Million, indicating a hike of 250%. Past Performance of KAVA KAVA prices regain bullish conscience near the $1.30 mark after the downfall of 70% within two weeks. The reversal from $1.30 struggled to surpass the $2.85 for the entire of May but eventually mimicked the market recovery; buyers exceeded the $3 market value. The rally gives a bullish breakout of a rounding bottom pattern with a neckline coinciding at $2.85, increasing the likelihood of a bullish continuation. Source- Tradingview KAVA Technical Analysis The breakout candle of 12% growth shows an increase in buying pressure evident by the surge in intraday trading volume. However, the higher price rejection in the daily candle questions the likelihood of bullish closure. The Vortex indicator displays a bullish crossover of VI lines, following the breakout of the rounding bottom pattern. The Stochastic RSI signals a sharp bullish reversal slightly below the overbought boundary, indicating the reversal in the bearish phase. The RSI slope surpasses the halfway line after the divergence breakout, crossing above the 14-day average line. Hence, the s...