Band Protocol (BAND) Bounces Positively

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.

Make money without lifting your fingers: Start trading smarter today