KAVA and the Hard Protocol prices are relatively weak despite earlier gains. HARD/USDT is firm above $0.60, while KAVA/USDT prices could plunge if $4 fails to hold.
Kava
The Maker-inspired cross-chain platform allows users to lend and borrow digital assets. KAVA is the native currency.
Past Performance of KAVA
The KAVA price is relatively stable, unlike most DeFi tokens.
If anything, the recovery from the 78.6 percent Fibonacci retracement level of the H1 2021 range has been impressive.
However, the prices are reversing from the primary resistance line, weighed down by the general weakness in the market. The price is down seven percent.
Day-Ahead and what to Expect
The path of the least resistance, from a top-down approach, is southwards unless there is a sharp rebound above the immediate resistance level.
Overly, KAVA/USDT prices range in a broader $2.5 zone, with caps at $5 and primary support at $2.5.
KAVA/USDT Technical Analysis
Technically, buyers exhibit strength.
Still, there must be a fitting break above $5 that may catalyze demand, lifting KAVA/USDT back towards $7.5 in the medium term.
This means the reversal of the July 7 and 8 double bar bear reversal pattern.
Conversely, losses below the middle BB and $4 may see KAVA/USDT prices dump down towards $2.5.
Hard Protocol (HARD)
The platform is a cross-chain money market protocol on the Kava network. HARD is its governance token.
Past Performance of HARD
The token has been one of the top performers, as per price action in the daily chart.
Presently, HARD prices are in consolidation, moving within a tight $0.20 zone amid squeezing BB.
HARD is down three percent when writing even though trading volumes are high, indicating trader interest.
Day-Ahead and what to Expect
Technically, HARD/USDT prices remain in an uptrend.
Notably, HARD, despite losses of the first two weeks of the month, is firm from an Effort-versus-Results perspective.
For now, $0.55 is the primary support line.
On the reverse side, all that HARD bulls need to confirm is the double bar bullish reversal pattern of July 10 and 11 above $0.85.
HARD/USDT Technical Analysis
HARD buyers are in the driving seat and resilient, successfully soaking sell pressure of the last few trading days.
A close above $0.85 confirms bulls of June 9 and 10 in a move that may lift HARD/USDT back to $1.2.
On the more cautious end, losses below $0.60 could see HARD contract back to $0.55.
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