Band Protocol (BANDUSD) Price Experiences a Retreat to Its Former Level
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BANDUSD Analysis – Price Experiences a Retreat to Previous Level of $8.000 Significance
BANDUSD price experiences a retreat to a former significant level of $8.000 as a result of rate policy influence caused by the bulls, despite being in a downtrend. The bears have single-handedly brought price movement into a bearish sensation and, based on this succession, the market influence on BANDUSD is ready to trade short and the price will eventually arrive at the $6.700 price level after the bullish retreat.
BANDUSD Significant Level
Level of Resistance: $10.540, $9.200
Level of Support: $8.000, $6.700
BANDUSD price movement experiences a sideways movement and there appears to be no significant exchange of power between the bears and the bulls. The price is witnessed to first start with a bullish order flow before the sellers then form in by dripping with strong liquidity influence. The process repeats itself as the bulls and bears continue to move in a sideways direction. The bears presently are the ones having superiority in the market.
Price influence fell following a retest of the $10.540 price level, extending the drop in momentum. The market experiences further outbreaks at other levels as the bearish trend continues. The True Strength Indicator (TSI) is a specialized energy oscillator that can be utilized to spot patterns and inversions on the lookout. The pointer might be utilized to decide if a market is overbought or oversold, to feature potential pattern heading changes using centerline or sign line hybrids, and to caution against pattern debilitation through dissimilarity. The TSI crosses below the 0.00 level, indicating the general trend of the market as the market experiences a retreat back to $8.000 before bearish continuation.
Market Expectations
The 4-hour chart ordeals show price emerging to cause a retest around the $8.000 level as the bearish trend continues. The MACD (Moving Average Convergence Divergence) indicator shows price movement generally below the 0.00 phase as we await a retreat. Price will fall before breaking through the $6.700 significant level and moving higher.
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