Band Protocol (BAND/USD) Price Propulsion Remain Unmoved
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BANDUSD Analysis- Band Protocol (BANDUSD) Price Propulsion Remains Unchanged
BAND Protocol price propulsion remains unchanged. The price action has been trading quietly due to the buyers’ and sellers’ limited trading activity on the BANDUSD price. For a while, there has not been any spike occurring in the BANDUSD market because the token has only been influenced by low pressure. The daily chart shows that the momentum indicator looks unchanged from the middle of May 2022 to this moment.
BANDUSD Trade Levels
Resistance Levels: $10.2200, $$6.4000
Support Levels: $3.3600, $1.1400
BANDUSD price has been less engaged, which implies fewer trading opportunities for buyers and sellers. A huge move, therefore, must be caused by big investors in order to have a propulsion influx in price. Before the unchanged momentum commenced, a massive dip occurred from the strong key zone of $3.3600. This must have been a consequence of dropping orders down in price.
BANDUSD price; the bearish impulse has been present for longer than the bullish pressure, which has been present for around a year. Since reaching a major level of around $10.2200, the price of BANDUSD has experienced a significant amount of downward movement. A significant number of major price levels were breached, contributing to increased sales. As a result of there being less velocity, the selling pressure that was being exerted on the BAND Protocol price has been nullified. Currently, the stochastic oscillator is in the oversold area, so sellers are selling less on the daily chart.
Market Expectation
On the 4-hour time frame chart, the selling activity is already closing out over the important level of $1.1400. Now that momentum has not changed significantly; buyers are being quiet about closing their positions.
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