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The Bancor price prediction may continue to settle above the 9-day and 21-day moving averages as the coin heads to the upside.
Bancor Network (BNT) Token Forecast: Is Bancor Coin Worth Investing In?
As the cryptocurrency market approaches the $3 trillion capitalization mark, altcoins are leading the bullish trend. While large-cap coins continue to reach new heights, smaller-cap coins hold the promise of substantial gains. Amidst a sea of altcoins, we present a BNT price prediction, focusing on the native coin of the Bancor Network.
Bancor Prediction Statistics Data:
- Bancor price now – $0.86
- Bancor market cap – $108.3 million
- Bancor circulating supply – 131.1 million
- Bancor total supply – 161.1 billion
- Bancor Coinmarketcap ranking – #141
BNT/USD Market
Key Levels:
Resistance levels: $1.05, $1.10, $1.15
Support levels: $0.65, $0.60, $0.55
Looking at the daily chart, BNT/USD continues to trade above the 9-day and 21-day moving averages within the channel. However, the cryptocurrency is now trying to create a higher ground above the resistance level of $0.95, and should the buyers keep the coin above the moving averages, it may remain on the upside.
Bancor Price Prediction: What Could be the Next Direction for Bancor?
The Bancor price may stay above the moving averages and if the resistance of $1.00 gives way, the bull run may come to focus, and the coin may create an additional bullish trend. Now, the bullish scenario seems to surface as buyers continue to post firm commitments into the market. According to the daily chart, traders could see a sharp rise in the market price. Therefore, if the coin moves near the upper boundary of the channel, this could further strengthen the market to the resistance level of $1.05, $1.10, and $1.15.
Nevertheless, a lower possible swing may likely retest the previous support below the 9-day and 21-day moving averages. However, if the bears manage to fuel the market, traders may expect a further drop to the support levels of $0.65, $0.60, and $0.55 respectively. On the other hand, the 9-day and 21-day moving averages stay within each other, indicating that the market may consolidate.
BNT/BTC Could Move Bullishly
Against Bitcoin, the Bancor price is hovering above the moving averages in other to reach the resistance level of 1400 SAT. Meanwhile, this resistance level is expected to effectively exceed so that the market price may end up closing above it.
Moreover, if BNT/BTC slides below the 9-day and 21-day moving averages, it could refresh lows under 1100 SAT and a possible bearish continuation may likely meet the major support at 1000 SAT and below but if the coin crosses above the upper boundary of the channel, it could hit the potential resistance at 1550 SAT and above.
However, @JavonTM1 shared insights with his 36.7k followers on X (formerly Twitter) regarding $BNT (Bancor)’s price performance in late 2023. He noted the extreme strength displayed by Bancor, resulting in an impressive approximately +387% movement towards the $9.0821 target. However, he suggests that Bancor might not be finished yet, as this target remains well within reach. With the potential for over 900% movement to reach it, significant developments may be underway.
$BNT (Bancor)’s price, in late 2023, showed EXTREME strength, making an approximately +387% move towards the $9.0821 target but they may be far from done as this target remains well in play!
With this being, an over 900% move to reach it could be coming and in the works… https://t.co/sC83SnQzuL pic.twitter.com/iFLpEaaw1V
— JAVON⚡️MARKS (@JavonTM1) April 7, 2024
Bancor Alternatives
The Bancor price has bounced back, settling comfortably above the moving averages after briefly dropping below the lower channel boundary. If market momentum persists and pushes upwards, traders may witness a test of the $1.00 resistance level. With strong bullish activity, Bancor’s price could aim for even loftier heights. In comparison, while Bancor (BNT) boasts a market capitalization of $108.3 million, Dogeverse is still in its early developmental phase. Despite Bancor’s established status, $DOGEVERSE presents an enticing opportunity with the potential for rapid price appreciation. Demonstrating its promising outlook, the token has already attracted over $3.7 million in its ongoing presale phase, showcasing its upward trajectory.
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