The Band Protocol (BAND) Market Stages a Weak but Promising Rebound

So far today, price action in the Band Protocol daily market has seen only minor profits. Whether the market may gain more as trading activity continues depends largely on the level of conviction that traders and investors have about the market. At this point, applied technical indicators are showing mixed signals and call for more thoughtful analysis.

BAND Statistics:
Current Band Protocol Price: $1.342
– BAND Market Cap: $194,002,709
Band Protocol Circulating Supply: 144,601,169
BAND Total Supply: 149,001,169
Band Protocol CoinMarketCap Rank: 236

Key Price Levels:
Resistance: $2.00, $3.00, and $4.00
Support: $1.00, $0.750, and $0.500

BAND Price Action Stands atop a Promising Baseline

Price activity in the Band Protocol daily market has recently corrected off the uppermost band of the Bollinger Bands. The observed downward correction spanned two sessions, while today’s trading session has shown a minor deviation from that trend.

The last price candle stands just above the 78.60 Fibonacci Retracement Level but appears small and vulnerable. Additionally, the Stochastic Relative Strength Index (SRSI) lines are still falling towards the 50 level. Traders will need to closely monitor this market to gather clues about future price movements.

The Band Protocol Market Maintains Its Vulnerable Appearance

There are signs that the BAND 4-hour market may rebound upwards. The price candle corresponding to the ongoing session reveals that price movement remains vulnerable. This is evident as it is small and lies below the middle limit of the Bollinger Bands indicator.

However, it should be noted that the SRSI lines remain in the overbought region but have moved sideways. The positioning of the price candle and the trajectory of the SRSI indicator suggest that an upward bounce may occur. So traders might still want to utilize bullish crypto signals, but any upside anticipation should be aimed at the $1.400 or $1.450 mark.

Start using a world-class auto trading solution.