DAG
DAG is drifting in the lower half of June's range and showing imprecise price action with many wicks. This behavior makes specific support and resistance levels serve as guidelines rather than exact targets.
The price is testing possible support near $0.03011, near the midpoint of June's monthly wick. The daily chart also shows a gap and accumulation near this level, under a now-swept daily swing low from June 20th.Â
This level could support a bounce, but traders may want to wait and see how strong this level is in the face of traders selling Monday's news.
If the price drops deeper, bulls might aim to protect their stops under many relatively equal lows around $0.02712. The midpoint of May 29th's weekly wick and daily accumulation near $0.02891 could act as support. Still, bulls should be cautious near this level.
Price is repeatedly testing resistance near $0.03294, where distribution took place on the daily chart. This level has confluence with the 9 and 18 EMAs.
A break through this level may sweep bears' stops above the $0.03362 daily swing high and reach up to $0.03505, near the July monthly open. Bears rejected bulls near this level on the monthly chart in June. It's also near the midpoint of distribution during the week of June 19th, the center of July 4th's long upper wick, and June 27th's daily distribution.
KAVA
KAVA is consolidating in a tight range near the middle of a more extensive range ahead of Wednesday's news release. This news could unleash volatility that breaks out in either direction, with price action showing no strong hints as to whether bears or bulls will take control.
The price is consolidating on support near $0.941, where accumulation occurred on the daily chart on June 22nd. Bears rejected bulls near this level on the monthly chart during January.
Above, the unfilled part of a daily gap from June 27th spans from $0.988 to $1.000. If bulls sweep bears' stops over relatively equal highs at the bottom of this gap, this gap might offer resistance.
However, relatively equal lows exist under the current consolidation range. If bears push the price below these lows to sweep bulls' stops, bulls may find support in a weekly gap from $0.881 to $0.827. Inside this weekly gap, June 20th's daily gap from $0.863 to $0.829 could offer more sensitivity.
Approximately the same distance away, but to the upside, a small daily gap and distribution from June 25th to 26th might offer resistance if the closer resistance near $1.000 breaks. This level has confluences with the June monthly open and May's monthly bearish rejection of bulls.
EGLD
EGLD is drifting lower - but has formed a triple sweep on lows during the last year. This formation could hint at a longer-term bullish reversal, although this reversal could take months to play out.
The price bounced to fill early June's inefficient trading after sweeping bulls' stops under the $32.31 low. If late June's uptrend continues, the price has higher odds of finding support near June 28th's daily accumulation near $34.10.Â
It's reasonable for the price to dip lower to sweep the stops of bulls that bought in anticipation of next Sunday's Mainnet launch. Many of these bulls might have placed their stops under June 28th's daily swing low near $32.00.Â
Under this low, June 19th's weekly gap may offer support. The price might fall slightly under this gap to June 12th's weekly wick midpoint, which also marks the low of June 21st's daily gap.
Resistance begins just above the July monthly open, near $34.98. Bears rejected bulls on the weekly chart at this level during the week of June 26th. It's also the lower half of July 3rd's candle body, which marks higher-probability resistance in daily distribution.
If bulls break this resistance, bears' stops above the $36.33 and $36.80 daily and weekly swing highs offer a tempting target. Above these highs, June 5th's daily gap from $37.65 to $37.20 could create a pause or bearish turning point in the potential move.
