Band Protocol Price Prediction for Today, February 3 – BAND Technical Analysis

On Feb 3, 2024

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The Band Protocol price prediction shows that BAND hovers above the 9-day moving average where it can face upward movement.

Band Protocol (BAND) Surges to $1.8 with Bullish Rating

In the past five days, Band Protocol has displayed a bullish trend. This assessment is based on analyzing both its trading volume and price movement during this period. Such analysis offers a concise snapshot of the crypto’s recent performance, catering to the needs of both short-term investors aiming to capitalize on upward momentum and long-term investors seeking advantageous entry points during price dips.

Band Protocol Prediction Statistics Data:

Band Protocol price now – $1.83
Band Protocol market cap – $253.4 million
Band Protocol circulating supply – 138.6 million
Band Protocol total supply – 143 million
Band Protocol Coinmarketcap ranking – #179

BAND/USD Market

Key Levels:

Resistance levels: $2.30, $2.50, $2.70

Support levels: $1.35, $1.15, $0.95

BANDUSD – Daily Chart

BAND/USD is trading around the resistance level of $43.3 after touching the daily high at $1.84 and now hovering above the 9-day and 21-day moving averages. Meanwhile, the market price may need to the hit nearest resistance level of $2.10 for the long-term technical picture of the coin.

Band Protocol Price Prediction: BAND/USD Ready for the Upside

The Band Protocol price may head toward the upper boundary of the channel as any bearish movement toward the south could bring the coin under the lower boundary of the channel; this could later hit the support levels at $1.35, $1.15, and $0.95. On the upside, a sustained bullish movement above the moving averages may create more strength for the coin, which could push the Band Protocol price to the resistance levels of $2.30, $2.50, and $2.70 respectively.

The 9-day moving average keeps hovering above the 21-day moving average, indicating that the market may go bullish. Meanwhile, there may be a need for support to be formed around $1.75 and $1.80 to provide tight protection, allowing the buyers to concentrate on stirring action to the north.

BAND/BTC May Create Additional Gains

Against Bitcoin, the BAND price continues to hover above the 9-day and 21-day moving averages which could touch the resistance level of 4500 SAT. Moreover, as soon as the coin makes a bullish cross above the upper boundary of the channel, it could hit another resistance level of 4700 SAT while the 9-day MA may cross above the 21-day MA.

Band Protocol Price Prediction for Today, February 3 - BAND Technical Analysis — BANDBTC – Daily Chart

However, if the bulls succeed in breaking to the upside, the BAND price may locate the potential resistance level at 5000 SAT and above. On the contrary, any bearish move below the lower boundary of the channel could bring the price to the support level of 2800 SAT and below.

Nevertheless, on their X account, @ChartMonkeyBTC foresees a sustained uptrend for BANDUSDT, supported by its recent breakout from a triangle pattern. They set their target at $2.3, suggesting a long entry point at $1.8 and a stop-loss level positioned below $1.621. Their initial target stands at $1.9.

📈LONG: #BANDUSDT $BAND by @getgreencrypto
We anticipate a continued positive trend for BANDUSDT as it recently broke out of a triangle pattern. Our target is $2.3, with a long entry level at $1.8 and a stop loss below $1.621. Our first target is $1.9. pic.twitter.com/S42O8NPX4U
— Crypto | ChartMonkey (@ChartMonkeyBTC) February 2, 2024

Band Protocol Alternatives

The Band Protocol price is currently showing bullish movement, potentially aiming for higher levels. However, Bitcoin Minetrix, with its innovative decentralized cloud mining platform, stands out from Band Protocol. Despite Band Protocol’s significant market presence, its large market cap might restrict further profit potential, whereas Bitcoin Minetrix has demonstrated impressive success in its presale, accumulating nearly $10.2 million.

Bitcoin Minetrix ICO Hits $10M – Next 10X Potential Crypto?!

Bitcoin Minetrix offers investors two avenues to earn rewards. The on-chain rewards gained through staking alone are lucrative and worth investors’ time. When combined with the mined Bitcoin, these rewards can significantly multiply, enhancing investors’ overall earnings. Moreover, Bitcoin Minetrix introduces an innovative stake-to-mine utility within its cloud mining ecosystem, providing an additional opportunity for investors to benefit.

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