Band Protocol (BANDUSD) Is Set to Make a Comeback to an Old Significant Level
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BANDUSD Analysis – Price Is Set to Make a Comeback to the $8.000 Significant Level
BANDUSD is set to make a comeback to the old price level of $8.000 as the market journeys with an increase in price momentum. Price momentum, on the other hand, will continue to have a big influence on the market as long as selling pressure persists. Band Protocol has been in a bullish order market, but it has to pull back by forcing bears to make a major comeback to the $8.000 price level before it can continue.
BANDUSD Significant Levels:
Resistance Key Levels: $10.300, $8.000
Support Key Levels: $6.800, $4.200
BANDUSD has managed price momentum increase when the price first begins to rise after a retest at the $4.200 support level. Price movement, however, moved up to the $10.300 resistance level after several price levels were broken and retested. From this resistance zone, a strong bearish wave set at drawing price with strong liquidity and price assumes great strength coming down to the $6.800 significant level after a first failed retest at this level displays a long wick.
However, the bulls, deciding not to be left out, picked up the market movement from the $6.800 significant level, and the price continues to break forth with the momentum strength in the market. BANDUSD breaks through $8.000 and makes a bullish ride before the bears set in to cause a pullback after riding to the $10.300 price level. The market, however, is set to make a comeback before the bulls eventually push the price up to another price level. The daily chart shows price momentum increasing as the price is making a comeback before the bulls finally continue their usual trend.
Market Expectations
BANDUSD on the 4hour chart depicts the major event that the market is focusing on. Before the bulls seize control of the market, the price will have to make a substantial rebound to the $8.000 level. Price movement is moving down from the overbought zone, according to the RSI (Relative Strength Index) indicator. This means that the bulls’ market power is waning, and the bears are in charge for the time being. However, before the bulls can gain traction, BANDUSD must return to the $8.000 price level.
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