KAVA Technical Analysis: Will The Breakout Rally Sustain Above $2?

KAVA market price exceeds the psychological mark of $2, projecting a bullish breakout rally. But, will this breakout rally sustain above the $2 mark? Key technical points: The KAVA prices are up by 1.87% in the last 24 hours. The price action shows the bullish breakout of an ascending triangle pattern in the daily chart. The 24-hour trading volume of Kava is $93 Million, indicating a hike of 65%. Past Performance of KAVA The KAVA prices took a bullish turnaround from $1.50 with lower price rejection candles to reach the psychological mark of $2. However, the buyers failed to exceed the high supply region resulting in a higher low formation generating a support train line to form an ascending triangle pattern. Moreover, the recent bullish reversal from the support trendline breaks above the 50-day SMA and the $2 mark resulting in the breakout rally. Source- Tradingview KAVA Technical Analysis The KAVA daily candle shows higher price rejection above the $2 mark bringing the question of uptrend sustainability as the overall market corrects. Hence traders eager to ride the breakout rally must wait for the price action confirmation. As the market value breaks above the 50-day SMA, the breakout rally eyes the 100-day SMA as the next milestone. Moreover, the breakout rally increases the bullish influence over the 50-day SMA resulting in a positive turnaround. The RSI slope shows a positive trend above the halfway line, with the 14-da...