Band
We finally reached the weekly moving average. Correction time?Now that we've hit the moving average, might the blue box act as a possible support zone if there's a crash?
Also, we have our cup, but where's our handle? Oh look, it's at the top of my blue box if we're bullish for September, or we might hit that bottom support first if we're bullish closer to December.
BANDUSDT TECHNICAL ANALYSIS Already made over 75% and we may earn another 18%. Next target might be $11.956. Cloud hasn’t change colour yet on daily chart but getting closer to change colour. If cloud turn green colour, it may another opportunity for buy as well. Let’s follow our chart closer.
“NFA”
Can we hold the $7.75ish line?If so, let's test the recent top again.
If we can't hold, then I'm still looking at closer to $7. With $5 being my lowest target—but only if we can't hold $7.75. Which I'm thinking we might hold for now. We'll see what Sunday brings. I've been trading Band pretty much daily for a year, & Sundays tend to be fun.
Targets for Band Protocol- In case of a bullish continuation I can see the 20 USD resistance break to the upside, the next Fibonacci targets are: 38 USD, 62 USD, 85 USD. Reversal area will be 4-5 USD in that case.
- In case of a bearish continuation and a longer term consolidation of Bitcoin, I expect Band Protocol to seek for the lowest support levels (alts do bleed out during a bearish Bitcoin consolidation, 2018-2020 as a reference).
- In case of a relief rally, I expect Band Protocol to have a hard time going through the resistances, each resistance is a potential sell zone.
Long term I think DeFi is the way to go and Band will play an important role in that space. So I am quite confident that at least one of the Fibonacci targets will be hit in the future.
Many altcoins without use cases will eventually become worthless, but Band Protocol is being used already very actively, unlike many other projects that are valued way more.
I still consider this project as undervalued in the crypto space, so the best I can advise is to dollar cost average into this.
Wow, 4 weeks of green! Seems like a long time without a larger correction. I'm looking at the middle rise of the most recent 'W', because it's a good support (just look at the past to see how many weeks touch that area) & it's a good entry target because the moving averages on the daily are just waiting to catch the price the next time there's any bad news—& there's always bad news, haha.
If you're looking for a better entry than the current price, I'd wait for $6.80ish.
After a correction, I'm majorly bullish to $30ish before the end of the year.