Band Protocol Price Prediction: BAND bulls aim for a 50% upswing, but a correction may come first

  • Band Protocol price is trading inside an inverse head-and-shoulders pattern on the daily chart.
  • The digital asset is on the verge of a potential breakout but might need to pull back first.

BAND has been trading sideways after its massive 10,000% rally seen earlier in 2020. The digital asset is now going through consolidation and bounded inside an inverse head-and-shoulders pattern, which is on the verge of being broken out.

Band Protocol price faces a critical resistance level at $7.44

On the daily chart, the most essential resistance point is located at $7.44, which is the neckline of the inverse head-and-shoulders pattern. A breakout above this level can quickly drive Band Protocol price towards $11.

band price

BAND/USD daily chart

Meanwhile, the In/Out of the Money Around Price (IOMAP) chart shows practically no resistance on the way up but a lot of support below $7.25. This metric clearly gives the bulls better odds of a breakout.

band price


However, it’s important to note that the TD Sequential indicator has just presented a sell signal on the daily chart. The last few bearish calls this indicator offered were all validated and had a significant bearish continuation.

band price

BAND/USD daily chart

Confirmation of the most recent sell signal could quickly drive Band Protocol price towards the 100-SMA support level at $6.7. If this point fails to hold, BAND could dive to the 50-SMA at $5.84.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin adoption accelerates as coiling prices hint at explosive rally

Bitcoin price faces a stiff resistance wall that has prevented weak bullish momentum from passing through. As a result, a short-lived retracement has caused a majority of the market to follow suit despite BTC’s raging adoption and interest from institutions over the past week.

More Bitcoin News

VeChain upswing thwarted again as sell signals multiply

VeChain price shows an ambiguous outlook as it has set up a textbook uptrend with a series of higher highs and higher lows, but technical indicators hint at a downtrend.

More VeChain News

Judge reaffirms order SEC must produce documents on Bitcoin, Ether and XRP in Ripple case

Judge Sarah Netburn has restated that the Securities and Exchange Commission (SEC) must produce documents related to Bitcoin, Ether, and XRP amid the ongoing legal battle with Ripple Labs.

More Ripple News

Polkadot Price Prediction: DOT hints at minor retracement before resuming its rally

Polkadot price shows a slowdown in its bullish momentum that has resulted in sellers taking over. Now, a minor retracement could push DOT into a significant support barrier.

More Polkadot News


Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast