The Hard Protocol and Kava Protocol prices are struggling for direction, even after substantial gains of early June 2021. KAVA/USDT resistance is at $4 while HARD/USDT remains in an uptrend provided prices are above $0.55. KAVA The protocol apes Maker but instead of supporting Ethereum tokens only, it allows users of other cryptocurrencies, like BTC, to lend and borrow. KAVA is its governance and utility token. Past Performance of KAVA The contraction of KAVA prices, like the rest of the markets, has been profound. KAVA is trading at around the 78.6 percent Fibonacci retracement level of the last six months’ range. Out of this, it explains why a section of traders expects more gains in the days ahead. At the time of writing, KAVA is relatively stable, soaking sell pressure of the first half of the week. Day-Ahead and what to Expect Technically, prices are weak, and bears are in the driving seat. Support and resistance lie at $2.5 and $4, respectively. As KAVA/USDT prices range, the direction of breakout would define the short-term trend, either pushing KAVA lower or relieving holders—who are aiming at $7.5. KAVA/USDT Technical Analysis The pin bar of June 22 counts for nothing if there isn’t a follow-through, driving KAVA above $4. Aggressive KAVA traders might be buying the dips. However, unless there is no comprehensive, high-volume close above the immediate resistance line, KAVA/USDT prices may sink below $2.5 to print a new 2021 lows. Hard Protocol (HARD) The HARD governance token resides in the Kava protocol, powering a cross-chain money market. Past Performance of HARD There are a series of higher highs as HARD price action in the daily chart reveals. Still, KAVA bulls might be accumulation provided prices are oscillating inside June 10 trade zone. Support and resistance are defined by the June 10 conspicuous bull bar. Day-Ahead and what to Expect The HARD/USDT candlestick arrangement favors buyers due to higher highs of the last few sessions following the June 10 bar. Resistance is at $1.2. A close above this mark confirms the double bar bullish reversal of late May 2021 and confirmation of June 10. In that case, HARD might lift off to $2.6—or better. HARD/USDT Technical Analysis Aforementioned, June 10 bull bar defines the short-term trajectory of HARD/USDT prices. Bulls could search for entries above $0.55 with targets at $2.6. On the safe side, risk-averse traders can wait for clear breakouts above $1.2, $0.55, or May 2021 lows before committing.
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