Bancor (BNT) Seems to Have Hit a Rock Bottom, and Price May Rebound Upwards

Bancor has experienced a price increase of 4.39% in today’s trading. Also, it appears as if this coin has reached a strong base and may proceed upwards from this point on. Let’s take a closer look at price movements in the BNT/USD market.

BNT Analysis Data:
BNT value now: $0.4012
Bancor market cap: $62,740,541
Bancor moving supply: 159,087,425
BNT Supply: 159,087,425
Bancor Coinmarketcap ranking: #334

Major Price Levels:
Top: $0.4012, $0.4062, and $0.4112
Base: $0.4000, $0.3950, and $0.3900

Bancor (BNT) Price Looks Ready to Rise

On the BNT/USD 24-hour market, price action appears to have fallen to a strong support level. For about four trading sessions, price candles have been testing the support at $0.3977 without breaking it. Also, the RSI lines can be seen rising steadily upwards from the oversold area. Meanwhile, the MACD indicator has started revealing that downward forces may have started giving way to upside forces. Furthermore, looking at the pattern formed by price action, it looks like the market is trading in a falling wedge pattern. Consequently, this aligns with the possibility of price action bursting out toward the upside.

Bancor (BNT) Price Action Continues to Maintain Upside Readiness

Here in the BNT/USD 4-hour market, price action has crossed above the 9 days EMA curve. And by implication, this points out that Bancor price may keep moving upward from this point. Additionally, the MACD indicator bars are growing green and taller to indicate an increasing upside momentum. Also, the lines of this indicator keep moving steadily upwards, from below the equilibrium point. The RSI indicator curves are still poised upward, with the leading line now at the highest level of the indicator. Summing up all indications emanating from trading indicators, traders can anticipate that the price may rise toward the $0.4200 mark.

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