Band Protocol (BANDUSD) Bullish Spike Is Coming to an End
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BANDUSD Analysis – The Market’s Bullish Spike Is Coming to an End
BANDUSD bullish spike is coming to an end in the market. The bulls soon pushed the price up despite being in a bearish phase in the market. However, due to the bulls’ insufficiency and unwillingness to hold price prominence in the BANDUSD market, the price will rebound from the trend line, paving the way for the sellers to apprehend price movement. Because the sellers are making the price move down, the bears are ready to break through the $3.300 price level.
BANDUSD Significant Zones
Resistance Zones: $4.900, $4.200
Support Zones:$3.300, $2.900
BANDUSD Long Term Trend: Bearish
The bulls in the market rallied the price movement following the upswing displacement in the market. BANDUSD trended, making significant higher highs and intermediate higher lows in price influence until the market finally arrived at the $4.900 price zone. The bullish pressure came to an end at this level. Nevertheless, the bear’s momentum kicked into the BANDUSD influence as the sellers significantly dropped the price tendency down to the $2.900market level around late February 2022.
The buyers then pushed the price action above 00 as the price moment progressed in a descending channel in the market. The market retested the $4.200 significant level before dropping again. Presently, the buyers already have a touch near the trendline on the 1-day chart, and the sellers are expected to set the price action back to the $2.900 significant level. The Stochastic Oscillator shows a price signal near the sell region as sellers are expected to kick in soon in the market.
BANDUSD Short Term Trend: Bearish
On the 4-hour chart, the price action still follows the same price pattern, and the sellers are willing to push the price back to the $2.900 significant zone in the market as the trend progresses. The Stochastic indicator and the Parabolic SAR (Stop and Reverse) indicator align with the price formation as the bullish spike is close to an end. Therefore, a drop is expected back to the $2.900 significant zone.
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