The Band Protocol and Reef Finance prices are under pressure, losing versus the USD. Still, BAND/USDT and REEF/USDT are bullish above $5 and $0.02, respectively.

Reef Finance (REEF)

The Polkadot-based platform allows cross-chain trading. It is unique as it aggregates liquidity and provides automation. Central to the project is REEF.

Past Performance of REEF

REEF prices are under pressure.

Although traders are optimistic, the price action of the last few days indicates weakness and a series of lower lows.

The primary support lies at $0.02. As of writing, REEF is down seven percent versus the USD. However, trading volumes are marginally up, adding eight percent to $51 million.

Day-Ahead and What to Expect

The path of the least resistance is southwards; bears are in control, mirroring losses of mid-May 2021.

Still, REEF/USDT prices remain mainly in range with caps at $0.02 and $0.05, respectively.

At the same time, momentum is waning as BB is contracting.

REEF/USDT Technical Analysis

REEF is bearish at the time of writing.

Recent bars are characterized with long lower wicks, suggesting demand in lower time frames.

At present, the trend direction isn’t clear. However, losses below $0.02 favor sellers who may target $0.01. Meanwhile, recovery from May 2021 lows could trigger demand, lifting REEF above $0.025.

Band Protocol (BAND)

The oracle provider is efficient and faster than competitors. It is based on Cosmos’ inter-blockchain communication (IBC) and powered by BAND.

Past Performance of BAND

BAND is under pressure, as price action in the daily chart reveals. The token is down a ballpark nine percent against the USD and five percent versus BTC at press time.

Day-Ahead and What to Expect

Generally, the middle BB is the immediate resistance line, recently capping progress of bulls.

There are a series of lower lows above $5 as BAND/USDT prices struggle from around Q1 2021 lows.

Technically, sellers are in control, mirroring the bears of May 19.

Accordingly, as long as prices are below the middle BB, the BAND may dip lower.

BAND/USDT Technical Analysis

BAND is under pressure.

Sellers are in control from a Volumes Analysis perspective.

Provided the middle BB caps bulls, every pullback may be a liquidating opportunity with targets at $5.

On the flip side, a reversal above $6 and the20-day moving average could be the impetus for a wave higher above $11 in a buy trend continuation.