Band Protocol (BANDUSD) Continues to Maintain Price Consolidation Sentiment
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Price Analysis – BANDUSD Continues to Maintain Price Consolidation Sentiment in the Market
BANDUSD continues to maintain price consolidation sentiment in the market. The price displays a downward movement back to the critical level of $2.800. As an effect of the bearish price trend, the sellers arrived at the $5.640 significant level. However, since then, the buy and sell traders continue to shake themselves off, which keeps the market in strong consolidation.
BANDUSD Key Levels
Resistance Levels: $10.500, 7.700
Support Levels: $5.640, $2.800
The sellers are currently nudging the price tendency downward in the consolidation. However, should momentum increase in the market, they can bring the price status to continue on their own accord. This will, however, be beyond the low of the $2.800 critical zone. The market has been on a bearish display since November of 2021. Following a sight at the market’s significant level of $10.500, the tide began to rise. Several important key levels were broken and retested as the bearish display continued.
The BANDUSD consolidation began when the price reached the market’s key level of $5.640. In the consolidation phase, the buy and sell traders fight for domination. However, the prospect of more increases in pressure in the market will shift the price structure from the consolidation phase. The market is currently trading downward to the $2.800 significant level as the consolidation phase continues on the 1-day chart.
Market Expectations
On the 4-hour chart, the price is trending downward in the market. The price first shot the bull up to the $5.640 fundamental level before the sellers took control. The Parabolic SAR (Stop and Reverse) indicator shows prices trending downward as the market drives prices back to the $2.800 key level.
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