Bancor Price Prediction for Today, August 4: BNT/USD Gets Rejected as Price Drops to $0.47

Updated: 18 August 2023

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The Bancor price prediction reveals that BNT failed to climb above the daily high of $0.50 level as its price retreats to push higher.

Bancor Prediction Statistics Data:

Bancor price now – $0.47
Bancor market cap – $78.5 million
Bancor circulating supply – 150.3 million
Bancor total supply – 161.1 million
Bancor Coinmarketcap ranking – #295

BNT/USD Market

Key Levels:

Resistance levels: $0.55, $0.60, $0.65

Support levels: $0.30, $0.25, $0.20

Bancor Price Prediction for Today, August 4: BNT/USD Gets Rejected as Price Drops to $0.47 — BNTUSD – Daily Chart

According to the daily chart, BNT/USD is hovering at $0.47 so it couldn’t take more days for it to catch up above the $0.50 resistance level. However, the Bancor price has not seen any major pullbacks yet but may use the 9-day moving average for support if it happens. Meanwhile, the most important signal for Bancor is the break of $0.50, which represented a major resistance level. Therefore, should the case of bulls break above the channel, they may absolutely confirm a monthly uptrend.

Bancor Price Prediction: Will BNT Break $0.50 or Reverse?

The Bancor price may succumb to selling pressure if the price drops below the 9-day moving average at $0.35 support. Meanwhile, the Bancor price hasn’t changed much during the past few days. The digital asset is currently staying above $0.45 but might not face a lot of resistance until it gets to the $0.50 level.

However, the technical indicator Relative Strength Index (14) is seen moving above the 70-level, therefore, if the signal line drops below this level, the market price may likely resume the downtrend to hit the supports at $0.30, $0.25, and $0.20, but if it breaks above the upper boundary of the channel, the potential resistance at $0.55, $0.60, and $0.65 may be visited.

Against the BTC, the Bancor price is currently bullish. As the price rises, buyers may be posing an additional threat to sellers that may keep the coin above the moving averages where the nearest target is located. However, an eventual break above this barrier may cause the coin to spike to the upside.

On the contrary, any bearish movement below the lower boundary of the channel could hit the main support at 1100 SAT before falling to the critical support at 1070 SAT and below. However, as the Relative Strength Index (14) moves into the overbought region, the buyers may push the market to the potential resistance at 1800 SAT and above.

Bancor Alternatives

The Bancor price is likely to create additional gains, however, when new uptrends are coming up, traders may use the moving averages to gauge the strength of the trend. Nevertheless, if BNT/USD remains above the 9-day and 21-day moving averages, this could be a sign of sustainability and may likely result in a bullish continuation.

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