Band Protocol Price Prediction: BAND May Head to the Upside
The Band Protocol price is currently changing hands at around $1.33 as the coin bounces off the daily low at $1.50 with a market cap of $167.9 million. Today’s trading begins with a significant uptrend in the market as the coin moves to cross above the 9-day and 21-day moving averages. However, traders are anticipating that the current price movement is an indication of the upcoming price rally in the market.
Key Levels:
- Resistance levels: $1.70, $1.80, $1.90
- Support levels: $1.00, $0.90, $0.80
Looking at the daily chart, the next step for the Band Protocol price is to cross above the candle. Once this is done, bulls may now push the coin to its nearest resistance level of $1.60 before targeting the potential resistance levels at $1.70, $1.80, and $1.90 respectively.
However, as the technical indicator Relative Strength Index (14) moves to cross above the 60-level, BAND/USD may continue to move to the north. Once it pays out, it can manage to sustain the bullish movement above the upper boundary of the candle. Meanwhile, if the price decides to take a quick turn to the south, the support levels could be found at $1.00, $0.90, and $0.80 if heading toward the lower boundary of the candle.
Against Bitcoin:
Band Protocol is hovering above the 9-day and 21-day moving averages. As the trend continues, bulls may continue to push the coin to the positive side as the technical indicator Relative Strength Index (14) moves to cross above the 60-level.
However, if the bulls push and keep the price above the upper boundary of the candle, BAND/BTC could rise to the resistance level of 550 SA and above. On the contrary, any bearish movement toward the lower boundary of the candle could bring the price toward the support level of 340 SA and below.
Alternatives to Band Protocol:
The Band Protocol price is trading above the 9-day and 21-day moving averages to its resistance level of $1.50. The coin may continue to rise if the price crosses above the upper boundary of the candle.
Meanwhile, Band Protocol could end this week on a bearish note, as the price could take a bullish cross above the candle.
Despite entering a saturated DeFi coin market, where hundreds of new tokens are announced each week, Band Protocol has emerged as a promising contender. Raising close to $17 million in its presale, the project’s successful launch showcases the substantial community backing already in place.
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