TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
|

Band Protocol Technical Analysis: BAND/USDT climbs by 18.6%, ends up as the biggest mover among top 100 coins

  • BAND/USDT jumped up and crossed the 4.50 psychological level this Tuesday.
  • Both RSI and 20-day Bollinger Band show that the asset is presently overpriced.
Band Protocol Technical Analysis: BAND/USDT climbs by 18.6%, ends up as the biggest mover among top 100 coins
Rajarshi MitraRajarshi MitraIndependent Analyst

BAND/USDT daily chart

BAND/USDT daily chart

BAND/USD jumped up from 3.945 to 4.66 this Tuesday as the bulls regained control. This 18.6% rise in valuation caused it to become the biggest mover among the top 100 coins (on CoinmarketCap). The price is trending above the 20-day Bollinger Band and the RSI indicator is moving along in the overbought zone. Both these indicators show that BAND/USDT is presently overvalued and may soon face another bearish correction. Healthy support levels lie at 3.1632 and 3.9453.

Author

Rajarshi Mitra

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

More from Rajarshi Mitra
Share:

Editor's Picks

Cardano Price Forecast: ADA holds above EMAs as recovery builds

Cardano Price Forecast: ADA holds above EMAs as recovery builds

Cardano reclaims trading above the key support zone on Monday after a 2.85% correction last week. Improving derivatives positioning and constructive technical outlook support a recovery for ADA. Derivatives data shows an improving sentiment among Cardano traders. CoinGlass’ long-to-short ratio for ADA reads 1.01 on Monday, flipping into green territory.

Zcash Price Forecast: $30 million ETF outflows weigh on mild ZEC recovery

Zcash Price Forecast: $30 million ETF outflows weigh on mild ZEC recovery

Zcash trades around $1,278 at press time on Monday, holding the previous day's 4% gains and showing a steady recovery over the last three days. Institutional demand for Zcash remains low, with Grayscale’s ZEC-focused Exchange Traded Fund recording $30 million in outflows last week.

Top 3 Price Prediction: BTC reclaims $83,500, ETH takes back 50-day EMA, XRP holds support

Top 3 Price Prediction: BTC reclaims $83,500, ETH takes back 50-day EMA, XRP holds support

Bitcoin takes back $83,500 on Monday after a sharp correction, with the Crypto King slipping below $81,000 the previous week. Ethereum and Ripple followed BTC’s footsteps, recovering and reclaiming the $2,500 and $1.400 marks after a pullback last week.

Ethereum Price Forecast: Weakening derivatives and US sentiment keep ETH below $2,500

Ethereum Price Forecast: Weakening derivatives and US sentiment keep ETH below $2,500

Ethereum saw a brief recovery on Friday, up 3% over the past 24 hours, but remains below the $2,500 key level as derivatives continue to show weakness. Open interest, the total value of outstanding contracts in a derivatives market, briefly rose to 13.29 million ETH earlier on Thursday as prices fell, before retreating to 12.83 million ETH.

Bitcoin: Uptober or Rektober?

Bitcoin: Uptober or Rektober?

Bitcoin (BTC) price is down over 4% so far this week, trading below $83,000 at the time of writing on Friday as mounting selling pressure threatens to derail the seasonal “Uptober” rally. Profit-taking, a surge in long liquidations and weakening demand from institutional investors are weighing on BTC.