Bancor Price Prediction for Today, January 5

Bancor Price Prediction for Today, January 5 – BNT Technical Analysis

Updated: 05 January 2024

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The Bancor price prediction shows that BNT may cross above the moving averages as the coin may settle in consolidation.

Bancor Prediction Statistics Data:

Bancor price now – $0.79
Bancor market cap – $107 million
Bancor circulating supply – 134.5 million
Bancor total supply – 161.1 million
Bancor Coinmarketcap ranking – #343

BNT/USD Market

Key Levels:

Resistance levels: $1.35, $1.40, $1.45

Support levels: $0.20, $0.15, $0.10

Bancor Price Prediction for Today, January 5 – BNT Technical Analysis — BNTUSD – Daily Chart

At the time of writing, BNT/USD is pushing for consolidation around $0.79 as the coin may cross below the lower boundary of the channel. However, the 9-day moving average may cross below the 21-day moving average which may reflect the influence of the sellers over the price.

Bancor Price Prediction: BNT Price May Consolidate Below the Channel

As the daily chart reveals, the Bancor price touches the resistance level of $0.79 but any sharp drop could affect the buyers from an attempted recovery above the 9-day and 21-day moving averages. Meanwhile, BNT/USD is likely to cross below the lower boundary of the channel to touch the nearest support level of $0.50.

At the moment, the coin moving sideways, but the bulls may need to increase the buying pressure to correct the current market value with a possible jump above $0.80. Meanwhile, if there is an increase in buying pressure, the price may break out of the channel to reach the $1.00 resistance. While trading at that level, a bullish continuation could reach the resistance levels of $1.35, $1.40, and $1.45 respectively.

On the other hand, if the coin drops below the lower boundary of the channel, a minimum swing below this barrier may bring the market to the support level of $0.40. Exceeding this level could take the coin to $0.20, $0.15, and $0.10 support levels.

BNT/BTC Consolidates within the Moving Averages

Against Bitcoin, the Bancor price is consolidating within the channel. According to the recent negative sign, the sideways movement may continue if the buyers fail to push the price above the 9-day and 21-day moving averages.

However, the 9-day moving average hovers within the 21-day moving average, suggesting that the market may continue to follow the sideways movement. Therefore, any bearish movement below could hit the support level of 30 SAT and below, but a bullish cross above the moving averages may push the price to the resistance level of 380 SAT and above.

Alternatives to Bancor

The Bancor price has rebounded, settling within a consolidation phase after dipping below the lower boundary of the channel. Should the market momentum persist and push toward the channel’s upper boundary, we might see the $1.20 resistance level tested. If bullish activity remains strong, the Bancor price could potentially seek even higher levels.

Nonetheless, while Bancor (BNT) boasts a market capitalization of $107 million, Bitcoin Minetrix is still in its early stages. Despite Bancor’s (BNT) well-established position, Bitcoin Minetrix presents a compelling opportunity with the potential for rapid price growth. As evidence of its promising future, the token has already garnered over $7.5 million in its current presale phase, highlighting its upward momentum.

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