At a time when most altcoins are in the red, the Band Protocol token has managed to post some positive movement. This resulted in a price growth of 2.35%. This was enough to place the token as the second-best-performing coin on the list at the time of writing.
BAND Statistics
Current Price: $0.439
Market Capitalization: $73.72M
Circulating Supply: 168.65M
Total Supply: 168.65M
CoinMarketCap Rank: 334
Key Levels
Resistance: $0.450, $0.500, $0.550
Support: $0.400, $0.350, $0.300
Band Protocol Continues to Register Gains
The gain seen on the BANDUSDT daily chart appears to be a continuation of bullish activity from the previous session. This implies that the market has remained in the green for two consecutive sessions. Consequently, price action currently resides above the 9-day Exponential Moving Average (EMA) line.
Additionally, the Stochastic Relative Strength Index (SRSI) indicator lines have just delivered an upward crossover above the 80 threshold. This suggests that bulls have a favorable outlook that may support further price increases.
BAND Stays on an Upward Path
Even on the 4-hour chart, price action is still edging upward. The latest price candle can be seen holding above the 9-day EMA curve. The candle is still green, though it appears to be contracting on both sides.
Meanwhile, the lines of the SRSI indicator continue rising into the overbought zone. As such, the movement of the SRSI aligns with the broader upward movement in price action. Technically, this implies that upside forces may continue to dominate, potentially pushing the token toward the $0.500 price mark.
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