Band Protocol (BANDUSD) Price Swing Persists in Consolidation Phase
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BANDUSD Analysis – Price Swing Continues in a Consolidation Phase
BANDUSD price swing continues in the consolidation phase. The price consolidation settles between the significant levels of $5.390 and $2.950. The bulls and bears are currently causing a swing in the market. The sellers have difficulty pushing price influence below the $2.950 key level, and the buyers are not willing to manipulate price sentiment above the $5.390 significant level. The market is expected to continue its consolidation.
BANDUSD Key Zones
Resistance Levels: $11.360, $7.500
Support Levels: $5.390, $2.950
Before the sellers posed a threat to the Band Protocol, the price value also emerged with consolidation between the key levels of $11.360 and $7.500. The consolidation phase started in September, and a breakdown in the market tendency occurred in December 2021. At this point, the bears took control of the price influence in the market. After a short-term accumulation above the key level, the price cracked through the $5.390 significant level.
Despite the market’s bearish display, buyers failed to make any approach in the price action. When the price falls below the $5.390 key level, the BANDUSD begins to consolidate, with bulls currently pushing the price level up to the $5.390 key level. The Stochastic Oscillator in the market shows the BANDUSD market in an overbought region. The signal has risen above the 100.00 level and is still progressing.
Market Prospect
The 4-hour chart of the market shows price manipulation between the sell and buy trends in the consolidation phase. The buyers are seeking price action to swing back to the significant level of $5.390. The Relative Volatility Indicator shows increasing-price strength as the buyers are swinging the price back to the $5.390 key level as the momentum increases.
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