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Banana Price Prediction: Will BANANA Surge to $20 in the Near Future?


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The Banana (BANANA) price is up 10% in the last 24 hours and 275% since its debut price recorded on September 14. After two days of consolidation under the $9.29 level, BANANA rallied 35%. This saw it breach the subsequent $11.39 hurdle before extrapolating 10% to the current price of $12.45. The successive rallies have analysts anticipating a cumulative 60% climb from here on out, potentially reaching the $20.00 target.

The project boasts an expansive liquidity pool, nearing $3 million. This points to a robust reserve of BANANA tokens locked in smart contracts. With such a big bucket, traders and investors can easily swap tokens for other currencies or fiat. For the layperson, a project with a sound liquidity pool makes trading more straightforward, faster, and more convenient.

Liquidity pools also have an impact on price. The bigger the size of the pool relative to a particular trade, the lesser the impact of that trade on price impact. This is because a “slippage” happens. Large pools can accommodate more significant trades without affecting the price too much.

Banana Listing On Poloniex

Banana token secured listing on the Poloniex exchange, which pumped the token price by almost 30%. This listing is among the bullish drivers for the token’s current bullish momentum. Notably, listing on a reputed exchange such as Poloniex points to the legitimacy of a project

Based on the chart below, Banana price action has been mirrored by significant transaction volumes, adding credence indicative of trader engagement. Meanwhile, the project boasts a strong position in today’s list of top gainers on CoinGecko.

Price Forecast As BANANA Goes Into Price Discovery

The BANANA token is going in price discovery, rallying north in the hype of the recent listing. The token is sitting in the support provided by the 9 EMA, also edging north and mirroring the rising momentum indicated by the Relative Strength Index (RSI). Banana prices could extend north if this move is sustained, likely reaching the $20.00 target. Such a move would constitute a 60% climb above current levels.

Notably, the RSI, though above the 70 level, could still head higher because Welles Wilder acknowledges that an asset is only considered overbought once the RSI crosses the 70 level to the downside. As such, BANANA is still not overbought and could record more gains in the future.

It is also worth mentioning that the Parabolic SAR tracking Banana price from below corroborates the bullish outlook, acting as a support level and bolstering the case for the bulls.

TradingView: BANANA/USD 4-hour chart

On the downside, the BANANA token’s Coinbase effect could run out, changing the trajectory for the altcoin. The Coinbase effect is the rally associated with a new token being listed on an exchange. Such an outcome for Banana price, worsened by profit taking, could see the token lose all the ground covered, possibly going as low as the $6.00 mark.

Meanwhile, another token is making headlines, a new player in the meme coin ecosystem. It is WSM, the ticker for the Wall Street Memes project, and it is set for listing in a little over a week.

Promising Alternative To  BANANA

With the countdown sending soon, now is your chance to buy WSM tokens at discounted rates. The project boasts an expansive community of more than a million strong supporters. Its presale’s record of accomplishment is enough testament to the measure of success this project has committed to, and analysts are very optimistic about it.

Contending against the likes of PEPE, SHIB, DOGE, and BONE, among other meme coins, WSM has excited the attention of billionaire innovator Elon Musk.

With the best interest of community members at heart, the Wall Street Memes ecosystem has a staking function. This property reduces selling pressure on the WSM token, giving it more time to grow. At the same time, it is an opportunity for token holders to grow their income passively through Annual Percentage Yields (APY). According to the website, the APY is currently 58%, with almost 345 million WS tokens staked and 75 rewards per block for WSM holders. Do not miss out. Buy WSM now.

Do not let this gold mine pass you by ranking among the two new crypto presales that could multiply your money 10X.

Visit Wall Street Memes here

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