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The Band Protocol token has witnessed a massive upside rebound. This has positioned the token as the second most profitable coin at the time of writing. Although the market may soon experience a notable contraction, it still appears that more gains could be available in this market.
BAND Market Statistics
Current Price: 0.792
Market Capitalization: 125.81M
Circulating Supply: 164.75M
Total Supply: 164.75M
CoinMarketCap Rank: 313
Key Price Levels
Resistance: 0.850, 0.900, 1.000
Support: 0.750, 0.700, 0.650
Band Protocol Buyers Dash Into the Market
Upside momentum in the BAND daily market can be observed registering a sudden price surge in today’s session so far. This price increase has driven the token above the middle band of the Bollinger Bands BB indicator.
In addition, price action can be seen acquiring notable momentum in recent times, as it continues to progress upward along the rising trendline. Likewise, the Stochastic Relative Strength Index SRSI indicator lines can be seen converging in preparation for an upward crossover. Therefore, it can be presumed that the market still has the potential to move higher.
BAND Bulls Stay Well Bolstered
On the 4-hour chart, the Band Protocol has clearly witnessed a strong bullish move in the ongoing session in particular. However, there has also been a sizeable pullback during the same period. This retracement has caused price action to fall slightly below the upper band of the BB indicator.
Nevertheless, the SRSI indicator lines still retain their sharp upward trajectory from the oversold region of the indicator. The culmination of these technical signals suggests that bullish sentiment remains dominant and may propel the market toward the 0.900 resistance level.
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