KAVA - Retesting Key Support, Quick 20%+ likely!
Updated
KAVA has been crashing around it's key support for a few weeks now, in a declining triangle; which as we've seen can go either way.
As we've seen with the last two bounces, we're likely to hit up from where we're at now to the upper resistance line.
RSI is ripe for reversal
MACD has shrinking bearish deviation and is heading to bull cross
volume has been dropping over the sell
EMA's 100& 50 are both by the upper resistance line,
We just went below EMA 200, which has been a pivot line 3 times in the last month and a half.
Should be pretty clean; set your stop loss below the support level , if it goes south it'll be a hefty decline.
There's a chance we'll move up to the green demand zone as we have been ranging here for a good while. But safe bet is catch the upper trend-line as TP.
--
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As we've seen with the last two bounces, we're likely to hit up from where we're at now to the upper resistance line.
RSI is ripe for reversal
MACD has shrinking bearish deviation and is heading to bull cross
volume has been dropping over the sell
EMA's 100& 50 are both by the upper resistance line,
We just went below EMA 200, which has been a pivot line 3 times in the last month and a half.
Should be pretty clean; set your stop loss below the support level , if it goes south it'll be a hefty decline.
There's a chance we'll move up to the green demand zone as we have been ranging here for a good while. But safe bet is catch the upper trend-line as TP.
--
I'm a guy that you don't know posting his ideas on the internet for the sake of improving as a human being. If you take this as financial advice, that's on you.
If you like my analysis, then leave a like and feel free to follow for more free content. Feedback, criticism and crude humor are welcome :)
Note
Damn never used that projection feature before, that thing is brutal lol. "FAILURE", thanks chart!Anyway check the bounce off bottom support incoming, if support holds expect a decent jump up, if not we're going off a cliff.
Come hang out with me on telegram, it's free and I won't be too mean too mean to you:
t.me/KadnimCrypto
t.me/KadnimCrypto
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