BNT 1D H&S + a new listing = the growth prospectsBancor is a networked liquidity protocol that supports automatic exchange across multiple platforms.
In the summer 2017 the developers attracted an abnormal $153 million to the project, with the help of ICO in just 3 days.
However, during 2018-2019, BNT lost value from a maximum of $10 to the minimum $0.11 in March 2020.
The project got its new lease of life in 2Q 2020, when it began to develop in the direction of the Defi sector. The price splash was x13-x15.
BNT is believed to become a major player in the future as it can efficiently handle trading volumes and convert blockchain assets into cash.
For the last 3 months, BNT price has been forming an Inverted Head and Shoulders reversal pattern.
Yesterday, there was a breakout of the base on very confident volumes, amid the news of the listing on 12/15/2020 on the Coinbase Pro exchange. As you remember, this happened recently with CVC.
We think that at this stage it is not worth waiting for an increase above $1.45-1.55.
Possible correction of this strong breakthrough to $1.15.
Although, if the reversal pattern works out well according to the TA canons, then we can safely expect that the BNT price will reach $1.77-1.80 in the near future.
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