Bancor (BNTUSD) Displays Reactions at a Psychological Level
Estimated Reading Time: 3 minutes
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
Free Crypto Signals Channel
Free Telegram Channel
BNTUSD Analysis: The Market Displays Reactions at a Psychological Level of $2.500
BNTUSD displays reactions at a psychological level in the market. The market slumped with a very large bearish candle to the $2.300 psychological level. The bulls utilized the zone to purchase BNT. Below the psychological level, multiple rejection candles were formed. The bulls moved the price up to $2.500, where they were resisted. After retracement, the bulls regained control, and the buying pressure pushed the market to $2.850.
BNTUSD Resistance and Support zones
Resistance Zones: $2.850, $2.750, $2.500
Support Zones: $2.159, $2.300, $.2600
The market faced resistance at $2.850. The market failed to push higher than $2.850. The market crashed to $2.500. The market reacted at the psychological level with a wick that formed beneath the psychological level. The market bounced out of the zone and resumed its bearish run beneath the $2.750 psychological level. The bulls took over as the market dipped to $2.150.
The psychological level at $2.150 was heavily defended. The psychological level was tested multiple times. The demand zone held the price. A new bullish run started on the 14th of March. The bullish run sprung beyond numerous psychological levels. On the 25th of March, the psychological level at $2.600 resisted the price. The market retraced to the lower psychological level to gather momentum. This propelled the bulls to break through the resistance formed on the 25th of March.
Market Expectation
Market ExpectationThe psychological level of $2.750 resisted a bullish run. Multiple wicks spiked up to a $2.850 psychological level. The previous resistance zone was successful once again in holding the price. The market has crashed rapidly this week. The market structure has been violated. Clearance of the low at $2.600 was formed on the 1st of April. BNTUSD is currently displaying a reaction at a psychological level of $2.500. The market is likely to retrace towards $2.750 to gather momentum to break out to the next psychological level at $2.300. On the 4 hour chart, the moving averages have signified a change in market direction.
How To Buy Lucky Block
Note: Cryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
