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Bancor (BNT) has transitioned into a bullish trajectory following an extended phase of consolidation that encompassed nearly an entire year since August 2022.
As of 7:22 am EST, the token trades at $0.53, representing a 6.2% drop over the last 24 hours.
However, despite this marginal decline, the past week witnessed a substantial surge of 47.8% in the price of BNT, enticing investors to participate in the market.
The price of BNT has established a solid foundation at the bottom support level of $0.34, undergoing three successful tests that underscore its robustness.
This support has served as a springboard for the bullish camp, propelling the price past the resistance barrier at $0.65.
After encountering a roadblock at the local high of $0.77, the bullish trend met resistance, compelling a retreat to a crucial support level at $0.51.
This level has demonstrated remarkable resilience, effectively thwarting multiple attempts by the bearish side to breach it.
The current bullish sentiment is substantiated by the positioning of the 50-day and 200-day simple moving average indicators, both trading below the price. Notably, the 200-day moving average now functions as reliable support for the price. Furthermore, the prospect of a moving average crossover offers an additional layer of confirmation for the prevailing bullish momentum.
The relative strength index (RSI) shows a downward trend below the overbought threshold of 70. Should the rebound continue, the bullish surge could propel the RSI above the overbought region, strengthening the bullish movement.
Based on the analysis above, the price has rebounded from the $0.51 support level, indicating a further bullish continuation past the resistance level to $1.03.
Conversely, if the market bears succeed in breaching the support level, this would force the bulls to retreat at $0.45 support, coinciding with the 200-day SMA.
Investors should consider investing in Wall Street memes (WSM), which has successfully reached a significant milestone in its ongoing presale funding, posing it as a better alternative to Bancor (BNT)
Wall Street Memes Alternative for Bancor
Wall Street Memes token (WSM) has emerged as a powerful contender, causing significant ripples in the cryptocurrency market with its impactful presence.
The token’s journey began with a bold challenge issued to Wall Street in 2021.
2023 the WSM token presale will be fully underway, having successfully amassed an impressive $23.085 million in presale funding.
With a staggering social media following of over 1 million members, the prospects of the token’s launch on prominent cryptocurrency exchanges appear promising.
This charitable mission involves setting aside 30% of the token supply for rewards, offering appealing opportunities such as airdrops and other enticing incentives.
This excitement has also captured the attention of Elon Musk, who has engaged with Wall Street Memes’s page on multiple occasions.
Distinguished experts in the field believe that WSM’s upcoming listing on a cryptocurrency exchange could generate substantial profits. Consequently, the ongoing presale offers a promising opportunity for discerning investors to participate.
Based on a robust foundational framework, WSM’s trajectory indicates favorable prospects for significant gains. The project’s intrigue deepens as speculation arises about the potential involvement of a prominent crypto influencer, further fueling interest in the undisclosed identity of the investor.
Secure Your Share of $50,000 Worth of $WSM Tokens.
Wall Street Memes rely not on perceived utility for value but instead, center around the community. This project has taken a unique approach to attracting investors.
If this positive momentum continues post-presale, there is potential for a 10x increase once the token is listed on cryptocurrency exchanges.
Currently, the token is up for purchase at a discounted price of $0.0331, which will increase to $0,0334 as the presale stage concludes. Investors looking to get involved by taking an active role in the Wall Street Memes Discord group and completing social media tasks offer the opportunity to obtain a portion of the $50,000 worth of $WSM tokens.
Furthermore, investors looking to acquire WSM tokens can connect their digital wallets to the token’s website and actively swap their ETH or USDT for the tokens.
Additionally, they can buy WSM directly using a bank card. Prospective participants should engage in the project’s development before its launch on exchanges.
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