Bancor Price Prediction: BNT Could Head Towards Upper Boundary of Channel
The price of Bancor (BNT) has increased by 2.45%, indicating a probable move towards the upper boundary of the channel. As of now, BNT is currently worth around $0.43. The market cap of Bancor is $61.7 Million, with a circulating supply of 144.9 Million and a total supply of 161.1 Million. It is ranked #299 on Coinmarketcap.
BNT/USD Market Outlook
Resistance levels for BNT/USD are at $0.60, $0.65, and $0.70, while support levels are at $0.30, $0.25, and $0.20. The coin is as of now experiencing a slight uptrend, reaching a daily high of $0.44 before settling at $0.43. Traders anticipate a forthcoming price rally.
Bancor Price Prediction: Bulls Eyeing Resistance Levels
According to the daily chart, Bancor is expected to move towards the upper boundary of the channel. Once it reaches this level, bulls may push the price over the channel, targeting resistance levels at $0.60, $0.65, and $0.70. The Relative Strength Index (RSI) suggests a positive trend movement with probable support levels at $0.30, $0.25, and $0.20.
BNT/BTC: Bulls May Drive Price Movement
Against Bitcoin, BNT has traded over the 9-day and 21-day moving averages, facing the upper boundary of the channel. Bulls are expected to push the coin further as the RSI moves over the 60-level. If the bears drag the price below the lower channel boundary, BNT/ Bitcoin may fall to the level of support of 1200 SAT. Nonetheless, if the bulls maintain the price over the moving averages, the coin could hit the resistance level of 2200 SAT and beyond.
Despite the fact that Bancor has not experienced major pullbacks, it may find support at the 9-day moving average. The break of $0.50, a whole lot of resistance level, would confirm another uptrend. With other tokens declining, Bancor remains a favorable investment due to its economical presale price, which has already generated over $25 Million in gains. Benefit from the present price before a substantial surge occurs.
Hot Take: BNT Shows Probable for Upside Movement
Bancor’s recent increase in price suggests a possible move towards the upper boundary of the channel. With resistance levels at $0.60, $0.65, and $0.70, there is probable for further growth. The RSI likewise indicates a positive trend trend. Nonetheless, it is crucial to consider alternative options and the support levels at $0.30, $0.25, and $0.20. Overall, Bancor presents a chance for investors to capitalize on its economical price and probable future gains.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.