KAVA and Augur prices are ranging. A breakout above $60 may drive REP/USDT prices to new 2021 highs. Meanwhile, the KAVA/USDT uptrend is valid above $4.
The Ethereum-based prediction market harnesses the power of the crowd using REP tokens.
The REP price is paring losses versus BTC, down 10 percent against USD, and marginally up versus ETH.
This mixed performance is with flat-lining participation.
Average daily volumes are up 10 percent, pointing at a market state in equilibrium.
From the daily chart, REP/USDT technical analysis suggests a ranging market.
REP/USDT are within a $30 zone with identifiable resistance and support at $60 and $30, respectively. Even with the degradation in valuation, REP prices are still in an uptrend.
Notably, as long as REP/USDT oscillates above $30, a recovery towards $60 could be on the cards.
Sellers are pressing REP prices down, but bulls stand a chance.
For aggressive traders, every dip above $30 may be a loading opportunity with immediate targets at $60.
On the flip side, a high-volume close below $30 may see REP/USDT slide towards $20 and Q1 2021 lows of $13.
The cross-chain DeFi platform is powered by KAVA coin.
Technical candlestick arrangement favors bulls.
Reflecting the state of DeFi, the coin is down 10 percent and has leveled versus BTC.
Still, the uptrend is valid. If KAVA/USDT steadies above $4—the primary support, prices may spring higher.
KAVA/USDT prices remain in range mode, albeit with the selling pressure.
Judging from the KAVA/USDT technical analysis in the daily chart, $4 is a strong support level that defines the short-to-medium term trajectory.
At spot rates, it is imperative to note that buyers are still in control.
The current accumulation may spring load KAVA above April 2021 highs of $7.5 in a buy trend continuation.
On the other hand, if KAVA caves in, prices may halve to $2.5 in a bear trend continuation following a protracted distribution.
The KAVA uptrend is valid provided prices oscillate inside the $3.5 zone with caps at $7.5 and $4, respectively.
Losses below $4 confirm sellers of late April 2021 and may see prices drop to $2.5.
On the more positive side, a recovery from spot rates above the middle BB towards $7.5 may form a Launchpad for a breakout towards $11—the 1.618 Fibonacci extension level of the Q1 2021 trade range.