TrustSwap (SWAP) and Cream Finance (CREAM) Technical Analysis: What to Expect?

TrustSwap and Cream Finance prices remain in range. SWAP/USDT trajectory depends on reaction at $0.85. On the other hand, a close above $185 may see CREAM/BUSD tear to $370.

TrustSwap (SWAP)

The goal of TrustSwap platform is to enable customizable transactions in DeFi and beyond. Using SWAP as the primary token, this protocol solves, among other problems, troubles around interoperability and split payment.

Past Performance of SWAP

SWAP prices are in a downtrend, free-falling throughout June after May triggers.

Although sellers have been contained reading from price action in the daily chart, SWAP sellers appear insurmountable.

However, there will be confidence if buyers overcome the 20-day moving average and $0.85.

At the time of writing, SWAP is up 10 percent versus the USD.

Day-Ahead and what to Expect

The path of the least resistance remains southwards. It is so given steep losses of June and May 2021-as aforementioned.

Despite the consolidation and series of higher highs relative to the lower BB, bulls are tamed as long as SWAP/USDT prices trend below $0.85.

SWAP/USDT Technical Analysis

There are hints of strength following the gains of July 8.

SWAP prices fell over 80 percent from May peaks. Bulls may flow back if SWAP/USDT prices edge past $0.85 and the middle BB in the short-term.

In that case, SWAP bulls may target $1.2 and $2.2.

A high volume drop below $0.60 invalidates the uptrend, forcing a sell-off towards $0.50 and $0.40.

Cream Finance (CREAM)

The Compound fork is where users can lend, borrow, swap, and tokenize. Central to its ecosystem is the CREAM token.

Past Performance of CREAM

The uptrend is valid for CREAM/BUSD prices as per development in the daily chart.

Prices remain in range mode with caps at $180 and $95, respectively.

Depending on the breakout direction, CREAM prices could either be distributing or accumulating.

CREAM is stable at the time of writing, backed by decent trading volumes on the last trading day.

Day-Ahead and What to Expect

CREAM/BUSD prices are in a broad $95 zone with caps at $180 to the upside.

At spot rates, bulls stand a chance. However, there is a bearish engulfing pattern pouring cold water on bullish prospects.

CREAM prices will remain firm if prices remain above the support trend line as in the daily chart.

CREAM/BUSD Technical Analysis

CREAM prices are relatively stable. Since buyers appear in control as prices move horizontally, a close above $185 may lift CREAM/BUSD back to $370—or February 2021 highs.

A dip below $130 and the minor support trend line may force liquidation of CREAM/BUSD back to $95.