Band Protocol (BANDUSD) Value to Regain Strength Following Bearish Repudiation
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Band Protocol Analysis: BANDUSD Value to Regain Strength Following Bearish Repudiation at the $1.2500 Zone
BAND Protocol value to regain strength following bearish repudiation at the $1.2500 zone. The sellers are currently being tested following a free fall below the $2.9900 level. However, the technical structure shows that the bear influence is undergoing a reaction as the BANDUSD sellers’ limit was rejected to go lower than the $1.2500 zone. The buyers are opening positions close to this level. Therefore, a tryout by the buyers should be anticipated back to the $2.99 zone on the daily chart.
BANDUSD Critical Levels
Resistance Levels:$11.6300, $5.850
Support Levels: $2.9900, $1.2500
The selling blocks of BAND have been pummeled and retested for a long time. The price selling formation first emerged after a bullish rally to the 11.6300 level. After this sequence comes the sellers’ monopolizing value of the BAND Protocol, which ushers in a bearish phase. With the trend lines being tested, more selling orders were being opened. The coin price dropped sharply to the $5.8500 zone due to more selling aggression.
However, further retracement was seen below this key level—the coin market accumulated around the 5.850 level before it was remotely distributed. More bearish coercion was eventually attained until the value dropped below $2.9900. BANDUSD bearish strength is declining due to buyers’ engagement around the $2.9900 critical zone. The price momentum strength indicator shows buying involvement on the daily chart.
Market Expectations
Due to price repudiation near the $2.9900 key zone, the bear movement is currently on hold. The buyers are opening more orders as the Stochastic Oscillator is close to the oversold zone. Therefore, the buyers should be alert to anticipate a price swing back to the 2.9900 fundamental level.
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