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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.

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