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Flamingo (FLM) and KAVA Technical Analysis: What to Expect?

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KAVA and Flamingo prices are bouncing from May 2021 pits. KAVA/USDT buyers are angling $7.5, while FLM/USDT could reach $1.2 in the medium term.

KAVA

The cross-chain, Cosmos-built DeFi protocol allows users to borrow and lend a range of coins. Adopting a Collateral Debt Position (CDP) system, KAVA is for governance and is central to the platform.

Past Performance of KAVA

The coin is one of the top performers, rapidly exploding on June 2 on the back of increasing trading volumes, which rose 2X.

At the time of writing, KAVA is up 52 percent against the USD, outperforming BTC and ETH on the same trading period.

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Day-Ahead and What to Expect

The path of the least resistance is northwards, judging from KAVA/USDT technical analysis in the daily chart.

KAVA bulls have reversed losses of May 19. At the same time, the uptrend is with high trading volumes, possibly marking the beginning of an uptrend.

Additionally, the surge of June 2 broke above the middle BB, thrusting KAVA bulls to the fire.

KAVA/USDT Technical Analysis

KAVA Price Daily Chart for June 3

The reversal of May 19 bears and the breakout above the Middle BB could mark the end of the April-May 2021 downtrend.

As such, every low may be a loading opportunity for aggressive buyers.

KAVA/USDT bulls can now target $7.5—April 2021 highs.

Losses below $3.5 cancel the uptrend.

Flamingo (FLM)

FLM is the NEP-5 token on the NEO blockchain, priming the first DeFi project on the platform.

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The governance token supply is unlimited.

Voters determine the amount that the protocol can mint at every given time.

Past Performance of FLM

There are higher highs on the FLM/USDT daily chart, indicating demand and momentum build up.

Performance-wise, FLM bulls are firmly in control.

On the last trading day, FLM prices are up 20 percent against the USD. Meanwhile, trading volumes are up 163 percent to around $43 million.

Day-Ahead and What to Expect

Candlestick arrangement in the daily chart favors FLM buyers in the short term.

As noted, FLM/USDT prices are above the middle BB and above a key resistance level—now support.

However, FLM/USDT prices are still within the May 19 bar, a bearish shadow from an Effort-versus-Results perspective.

FLM/USDT Technical Analysis

Flamingo Price Daily Chart for June 3

The uptrend is valid following the gains of June 2.

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FLM bulls are above $0.60 with decent trading volumes. Therefore, every low may be an opportunity for aggressive traders to load the dips targeting $0.75—May 19 highs—and April 2021 high of $1.2.

#DeFi #Flamingo #FLM #FLM/USDT #KAVA #KAVA/USDT

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Source: https://www.cryptoknowmics.com/news/flamingo-flm-and-kava-technical-analysis-what-to-expect

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