Bancor (BNT) Buyers Seem to be Eyeing the $0.9000 Price Mark
Login

Bancor (BNT) Buyers Seem to be Eyeing the $0.9000 Price Mark

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more



Today’s trading activities have brought some refreshing breath to buyers in Bancor’s daily market. Consequently, price action seems to be gearing up to hit a target at the $0.9000 mark, and technical indicators seem aligned toward that goal. Nevertheless, let’s carefully analyze the chances of this happening.

Key BNT Statistics:
Current Bancor value: $0.7992
BNT Market Cap: $107,305,138
Bancor Circulating Supply: 134,503,274 BNT
BNT Total Supply: 161,196,921 BNT
Bancor CoinMarketCap Ranking:340

Key Price Levels:
Resistance: $0.7992, $0.8000, and$0.9000
Support: $0.7900, $0.7800, and $0.7700

Bancor (BNT) Buyers Seem to be Eyeing the <img fetchpriority=.9000 Price Mark" width="580" height="331" data-lazy-src="https://learn2.trade/wp-content/uploads/2024/01/BNTUSDT_2024-01-04_18-56-29-1024x585.png"/>

Bancor Bulls Regain Moderate Bullish Traction

The BNT daily market recorded moderate profits in today’s trading activity. This has placed the market back at the same price level last seen about eight trading sessions ago. Likewise, it could be seen that trading activities are now occurring within arm’s reach of the tailwind, above the crossed lines of the Guppy Multiple Moving Average (GMMA) lines.

In addition, we can see that the Relative Strength Index indicator has already delivered a bullish crossover near the 40 marks of the indicator. Consequently, this suggests that prices may climb higher in the coming trading sessions since indicators are supplying a bullish impetus to traders in this market.

Bancor (BNT) Buyers Seem to be Eyeing the <img decoding=.9000 Price Mark" width="580" height="331" data-lazy-src="https://learn2.trade/wp-content/uploads/2024/01/BNTUSDT_2024-01-04_18-57-19-1024x585.png"/>

BNT Market May Witness Heightened Bullish Pressure

In a Bancor market with a shorter timeframe of 4 hours, it could be seen that the applied Moving Average Convergence Divergence (MACD) indicator is pointing to a significant increase in upside momentum. Here, it could be seen that the MACD last bar appears quite taller than the previous one above the equilibrium level. Consequently, this suggests that bullish momentum is increasing.

However, there has only been a moderate price increase in the ongoing session, while trading activities are happening above the crossed Guppy Multiple Moving Average lines. Be that as it may, traders can still at least expect price activity to continue towards the $0.8500 mark in the meantime, going by indications ensuing from technical indicators.

Trade crypto coins on AvaTrade

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News