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Annual Forecast for BANDUSD (2022)

January 12, 2022

#BANDUSD#Crypto#Crypto Analysis#CRYPTOCURRENCY#Daily Chart#Market Expectation#Price Action

Band Protocol (BANDUSD) Annual Forecast – Market Value Pumped in the Year 2020

The annual forecast for BANDUSD is highly predicted based on its previous years’ expansion and inefficiencies. BAND value pumped in the year 2020 far beyond 2019. The increase in the value of BAND started with the opening of the second quarter of 2020. The month of April started with a bullish ride from the demand zone at $0.200. The months preceding April appear to be dormant, with very short-sized candles. The month of July expanded rapidly, creating a gap seen in the monthly timeframe. The bulls were extremely aggressive as they took over the market during August. The price skyrocketed into the $17.500 zone.

BANDUSD Major zones

Demand Zone: $0.200, $4.500
Supply Zone: $9.950, $17.500

Annual Forecast for BANDUSD
BANDUSD Long Term Plan: Bullish

The price got exhausted at $17.500 and dropped below the zone the same month. This is seen with a wick above the August bullish candle. The month of September also seemed to continue the bullish run, but the bears defended the zone at $17.500. The bears went short heavily. The coin dropped to $4.500, creating a demand zone above the inefficiency in the market. The Moving Average period 9 was still beneath the monthly candles. This was to show that the bulls were still very active. The demand zone at $4.500 was utilized to go long. The previous resistance zone held the bulk of the monthly candles beneath the zone. Only the wicks were seen to spike through three times. The market was oversold in 2021 and this caused the rest of the year to be bearish.

The market is currently consolidating between the 9.950 zone and the 4.500 zone. The market is expected to fill up the inefficiency created in July 2021. This will most likely cause the price to seek 0.200 before going long. The Stochastic Oscillator shows the market is oversold. The bulls are likely to step in upon clearing the gap to take the price to test the previous resistance zone at $9.950.

Annual Forecast for BANDUSD
BANDUSD Medium Term Plan: Bullish

The market has been ranging in the weekly time frame. The range is between $9.950 and $4.500. This is seen in the sideways movement of the MA period 9. A false breakout occurred between August 30th and September 6th, 2021.
Around the 13th of December, the $4.500 demand zone was tested. The Stochastic Oscillator is signaling an oversold market. The bears may not necessarily fill the gap if the bulls readily utilize the $4.500 demand zone to go long to $9.950.

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