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KAVA and Hard Protocol Technical Analysis: Sellers Tightening Grip

source-logo  cryptoknowmics.com 15 November 2021 09:39, UTC

KAVA and Hard Protocol prices are struggling, and losses below $5 may see KAVA drop further. Meanwhile, HARD is capped below $1.2, the resistance line.

KAVA

The multichain cross-money market uses KAVA as the main currency.

Past Performance of KAVA

There are a series of lower lows pointing to possibly exhausted buyers.

As per the KAVA technical analysis, prices are trending inside a wedge and are right at the apex.

Based on this, a breakout is imminent.

Day-Ahead and What to Expect

Technically, KAVA crypto buyers are still in control.

Nonetheless, the immediate term KAVA coin trajectory depends on the breakout direction.

A close above $6 to reverse deep losses of November 10 might see the token float back to $7.5 in trend resumption.

Conversely, the future of the coin would be bleak if prices slide below the primary multi-week support trend line and $5.

KAVA Technical Analysis

From the daily chart, the upside momentum is waning as prices consolidate inside a wedge.

Ideally, a break above $6 would unshackle buyers, drawing demand which might lift KAVA token to $7.5.

However, since prices are trending inside the bear bar of November 10, sellers have the upper hand.

Therefore, losses below $5 and the wedge might see the token drop to $4.5 or lower in the days ahead.

Hard Protocol

The money market protocol depends on the HARD token for governance.

Past Performance of HARD

Technically, the Hard Protocol token is under pressure, printing lower lows below a critical liquidation line.

From the HARD technical analysis in the daily chart, the token is struggling in sellers' faces though the uptrend is still valid.

Day-Ahead and What to Expect

The HARD/USDT uptrend is capped at $1.2.

Since there has been no follow-through of the November 8 rally, it appears that the buyers' momentum is fizzling out.

A cross above $1.2 may trigger demand.

The resulting rally may thrust the HARD token to Q3 2021 highs of around $1.5.

Meanwhile, sustained losses below $0.95 could see liquidation back to October 2021 lows of around $0.90.

Hard Protocol Technical Analysis

The HARD coin price is under pressure, printing lower lows.

There have been bars with long upper wicks suggesting intense selling pressure.

Therefore, the lack of follow-through above $1.2 serves to embolden sellers.

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