Band Protocol Price Prediction for Today, April 16 – BAND Technical Analysis

The Band Protocol price prediction shows that BAND could renew the bullish trend after testing the support level of $1.34 today.

Band Protocol Prediction Statistics Data:

• Band Protocol price now – $1.34
• Band Protocol market cap – $199 million
• Band Protocol circulating supply – 141 million
• Band Protocol total supply – 145 million
• Band Protocol Coinmarketcap ranking – #271

BAND/USD Market

Key Levels:

Resistance levels: $2.20, $2.40, $2.60

Support levels: $0.60, $0.40, $0.20

BAND/USD has been hovering around $ 1.34 after touching the daily high of $1.54. The Band Protocol price is likely to cross below the lower boundary of the channel with a loss of 10.22% in the past few hours. Despite touching the daily high, the coin is still hovering below the daily high of $1.54 and it is likely to head toward the downside.

Band Protocol Price Prediction: What Could Be the Next Direction for Band Protocol Price?

According to the daily chart, the Band Protocol price is moving toward the south and any further bearish movement could hit the nearest support at $1.20. The Band Protocol (BAND) hits the daily high at $1.54 before retreating to where it is currently trading. Looking at it from above, more bullish movements may come into play if the market price heads toward the upper boundary of the channel, and the nearest resistance level could be found at $2.00.

However, traders can see that the daily movement remains in the hands of the bears but, a break into the positive side may most likely push the coin toward the potential resistance levels of $2.20, $2.40, and $2.60, while a drop below the lower boundary of the channel may lead to the supports of $0.60, $0.40, and $0.20 respectively.

BAND/BTC May Gain More Supports

Against Bitcoin, the Band Protocol is seen moving bearishly below the 9-day and 21-day moving averages. After the coin touched the daily high at 2331 SAT today, the coin later retreated to where it is currently trading. Meanwhile, the price keeps moving to the south as sellers put pressure on the market.

Nevertheless, should the sellers increase the pressure, the Band Protocol price may drop to the support of 1350 SAT and below. Now, the technical indicator shows that the market may continue to face the downside as the resistance level could be located at 3000 SAT and above.

Later on, @CrypsieGypsie shared with their followers on X (previously known as Twitter) that $BAND is experiencing a bullish trend above its support level, potentially aiming for $1.624, $1.859, and $2.048, with a crucial support level at $1.382.

$BAND is showing bullish movement above support and may target $1.624, $1.859, and $2.048, with a key support level at $1.382.#Btc #Bitcoin #Crypto #CryptoCommunity #CryptoTrading pic.twitter.com/D2fXWBxp43

— Crypsie (@CrypsieGypsie) April 14, 2024

Alternatives to Band Protocol

Based on the daily chart, the Band Protocol’s current price hovers around $1.34, potentially establishing initial support beneath the previous low at that level. Once breached, selling pressure may intensify, targeting the $1.20 mark. Any further decline from this crucial support level could amplify the downward momentum. Concurrently, traders are captivated by an emerging cryptocurrency gaining traction Dogeverse ($DOGEVERSE). Notably, this distinctive token has amassed over $4.9 million in presale funds, enticing traders to explore investment opportunities.

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