It is Make or Break for Band Protocol (BANDUSD) at $1.180
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BANDUSD Analysis: It is make or break for Band Protocol at the $1.180 price level
It is make-or-break for Band Protocol at the $1.180 significant level. After dropping from a market high of $3.050, the coin finds footing at $1.180. Notwithstanding, the buyers have been working to push the price back upward, but it has been largely unsuccessful. Rather, this has led to an undulating pattern in the market. The upward movement of the market is mostly contained at $1.970.
BANDUSD Key Levels
Resistance Levels: $2.490, $1.970
Support Levels: $1.180, $0.500
The price has thus far been cranking through the $1.970 as resistance and the $1.180 as support levels. As things stand currently, BANDUSD is seen to spend more time at the support level, which may be due to the weight of a downward push. The best attempt at the price so far came on the 9th of August, when the coin pierced through to $2.490. Since then, the coin has been largely capped at $1.970.
Besides that, the last rejection at the $1.970 resistance level has led to a drop back to the support zone. BANDUSD is spending more time than previously glued to this level, which may come to make or break the market. Make it so that the coin could spring up, and break it so that it could be submerged below the key level. The Parabolic SAR (Stop and Reverse) has its latest set of dots below the candles to signify bullishness.
Market Expectation
The 4-hour chart lets us see that the market has already dropped below the $1.180 support but not out of its region of influence. And so the coin has been lifted back above the price level. The Stochastic Oscillator lines have risen into an overbought status while the candlesticks have more Parabolic SAR dots below them than above them. Band Protocol is showing more bullish tendencies, so it might be a making level for the coin.
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