Bancor Price Prediction for Today, January 5 – BNT Technical Analysis

According to Bancor price predictions, BNT could surpass its moving average as the coin consolidates.

Bancor Forecast Statistical Data:

• Current Bancor price – $0.79
• Bancor market capitalization – $107 million
• Bancor Circulating Supply – 134.5 million
• Bancor total supply – 161.1 million
• Bancor Coinmarketcap Ranking – #343

BNT/USD market

Main level:

Resistance levels: $1.35, $1.40, $1.45

Support levels: $0.20, $0.15, $0.10

As of this writing, BNT/USD is pushing for consolidation around $0.79 as the coin could cross below the lower boundary of the channel. However, the 9-day moving average may cross below the 21-day moving average, which may reflect sellers’ influence on the price.

Bancor Price Prediction: BNT Price Could Consolidate Down Channel

As can be seen on the daily chart, Bancor price has reached the resistance level of $0.79, but the sharp decline may impact buyers as it attempts to recover above the 9- and 21-day moving averages. Meanwhile, BNT/USD is likely to break below the channel’s lower limit and reach the nearest support at $0.50.

The coin is currently moving sideways, but bulls may need to increase buying pressure to correct the current market value, which could see a jump above $0.80. Meanwhile, increased buying pressure may cause the price to break out of the channel and reach the $1.00 resistance level. While trading at these levels, continuation of the bullishness could lead to resistance levels of $1.35, $1.40, and $1.45, respectively.

On the other hand, if the coin falls below the lower boundary of the channel, a minimum swing below this boundary may cause the market to fall towards the support level of $0.40. A violation of this level could push the coin towards the $0.20, $0.15, and $0.10 support levels.

BNT/BTC is consolidating within a moving average.

Compared to Bitcoin, Bancor prices are consolidating within the channel. Recent negative signals suggest that the sideways movement could continue if buyers fail to push prices above the 9- and 21-day moving averages.

However, the 9-day moving average is hovering within the 21-day moving average, suggesting that the market may continue to follow a sideways movement. Therefore, a bearish move below could hit the support level below 30 SAT, while a bullish crossover above the moving average could push the price towards resistance levels above 380 SAT.

Alternatives to Bancor

Bancor price rebounded and fell below the channel floor before settling into a consolidation phase. If market momentum continues and pushes towards the channel upper limit, the $1.20 resistance level could be tested. If bullish activity remains strong, Bancor price could potentially pursue higher levels.

Nonetheless, while Bancor (BNT) has a market capitalization of $107 million, Bitcoin Minetrix is ​​still in its infancy. Despite the entrenched position of Bancor (BNT), Bitcoin Minetrix presents an attractive opportunity with the potential for rapid price appreciation. As evidence of its promising future, the token has already garnered over $7.5 million in its current pre-sale phase, highlighting its upward momentum.

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