Bancor Price Prediction for Today, November 8: BNT Technical Analysis

Updated: 08 November 2023

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The Bancor price prediction shows that BNT may continue to settle above the 9-day and 21-day moving averages if the buyers increase the pressure.

Bancor Prediction Statistics Data:

Bancor price now – $0.68
Bancor market cap – $100.4 million
Bancor circulating supply – 141.7 million
Bancor total supply – 161.1 million
Bancor CoinMarketCap ranking – #296

BNT/USD Market

Key Levels:

Resistance levels: $0.80, $0.85, $0.90

Support levels: $0.45, $0.40, $0.35

Bancor Price Prediction for Today, November 8: BNT Technical Analysis — BNTUSD – Daily Chart

BNT/USD continues to trade above the 9-day and 21-day moving averages as the price touches the daily high at $0.69. Moreover, the crypto is now trying to create another higher level above the upper boundary of the channel. Meanwhile, should the buyers keep the coin above the moving averages, it may remain on the upside.

Bancor Price Prediction: What could be the Next Direction?

The Bancor price may stay above the moving averages and if the resistance of $0.69 gives way, the bull run may come to focus, and the coin may create an additional bullish trend. Now, the bullish scenario seems to surface as buyers continue to post firm commitments into the market. According to the daily chart, traders could see a sharp rise in the market price. Therefore, if the coin crosses above the upper boundary of the channel, this could further strengthen the market to $0.80, $0.85, and $0.90 resistance levels.

On the downside, a lower possible swing may likely retest the previous support below the 9-day and 21-day moving averages. Therefore, if the bears manage to fuel the market, traders may expect a further drop to the support levels of $0.45, $0.40, and $0.35 respectively. On the other hand, the 9-day moving average is likely to cross above the 21-day moving average, indicating that the market may follow the bullish movement.

BNT/BTC Spikes above the Moving Averages

Against Bitcoin, the Bancor price remains above the 9-day and 21-day moving averages in other to reach the resistance level of 2100 SAT. However, this resistance level is expected to effectively exceed so that the market price may end up closing above it.

Moreover, if BNT/BTC slides below the 9-day and 21-day moving averages, it could refresh lows under 1500 SAT and a possible bearish continuation may likely meet the major support at 1300 SAT and below but if the coin crosses above the upper boundary of the channel, it could hit the potential resistance at 2300 SAT and above.

Bancor Alternatives

The Bancor price undergoes a much-needed break to the positive side after the market opens today. However, BNT/USD is currently posting gains of over 17.34% within the chart, with the coin aiming to cross above the upper boundary of the channel. In the meantime, if the market price continues the surge and moves above the upper boundary of the channel, the $0.70 resistance level is likely to come into play and the Bancor price may look for higher price levels if the bulls show commitment.

However, Bancor (BNT) has been experiencing a remarkable surge in the cryptocurrency market, showing strong performance. However, investors must keep an eye on emerging opportunities like Bitcoin Minetrix. Meanwhile, the Bancor (BNT) ranks 296 on CoinMarketCap with a market cap of $102 million but Bitcoin Minetrix is a new token that has been gaining significant traction during its ongoing presale, having already raised nearly $3.7 million.

New Crypto Mining Platform - Bitcoin Minetrix

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