Bancor (BNTUSD) Buyers’ Sensitivity is at Peak Level
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BNTUSD Analysis – BNTUSD Price Is Reacting to the Buying Moment
Bancor (BNTUSD) price sensitivity at peak in the market. The token price is now responsive to the buying charge that has been ongoing for the past few days. There has been a sudden change in buying volatility as we still expect buying strength to span for a while. However, we get to see the Bancor token still consolidating and there hasn’t been any sudden movement. The buyers haven’t made any solid attempts to break beyond the $0.5290 key zone. Despite its reaction to buying activity, the Price Oscillator confirms that prices remain stable.
BNTUSD Key Levels
Resistance Levels: 1.9110, 1.1670
Support Levels: 0.5290, 0.4100
BNTUSD price pressure was first defined by the selling moment. As selling pressure took level from the $1.9110 key zone, the bearish strength had a strong impulse. The price dropped to accumulate strength as we see further drops in the market. Following price consolidation close to the 1.1670 key zone, the sellers decided to flow down with strong volume, thereby making a hit beyond the $0.5290 key zone. Currently, the buy-side engagement has failed to demonstrate its strength as sellers have dropped downward.
Following this collapse, the marker hasn’t regained its current trend and this has led to the price consolidating close to the $0.4100 key zone. The market is currently responding to a buying setup which may likely decline in a few days as the Parabolic SAR (Stop and Reversal) indicator shows a signal on a negative trend. The stochastic oscillator is also trading overbought despite a buying stance on the daily chart.
Market Expectation
The Price Oscillator is currently pointing upward as buyers remain in control despite consolidation. We anticipate more prices to continue in consolidation as sellers are already looking around trying to penetrate back to the $0.4100 key zone.
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