Band Protocol Price Prediction for Today, June 8: BAND/USD Begins A Bullish Movement; Can It Touch $1.50?

Updated: 08 June 2023

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The Band Protocol price prediction reveals that BAND is facing key resistance at $1.30 as the market price may gain more upsides.

Band Protocol Prediction Statistics Data:

Band Protocol price now – $1.22
Band Protocol market cap – $156 million
Band Protocol circulating supply – 126.3 million
Band Protocol total supply – 135.1 million
Band Protocol Coinmarketcap ranking – #159

BAND/USD Market

Key Levels:

Resistance levels: $1.70, $1.80, $1.90

Support levels: $0.80, $0.70, $0.60

Band Protocol Price Prediction for Today, June 8: BAND/USD Begins A Bullish Movement; Can It Touch $1.50? — BANDUSD – Daily Chart

As the market opens today, after touching the resistance level of $1.25, BAND/USD retreats with a bearish bias as this could be a trick to move to the upside. However, the coin opens at $1.20, and it is currently dropping toward the lower boundary of the channel. For the past few days, the Band Protocol price has been moving sideways, trading within the 9-day and 21-day moving averages.

Band Protocol Price Prediction: Band Protocol (BAND) May Head to the North

Presently, the Band Protocol price is ranging, and the coin is likely to break to the upside to gain more uptrends. Meanwhile, BAND/USD is currently hovering at $1.22 as it prepares for the upside. Should it slide below the lower boundary of the channel, the critical support levels of $0.80, $0.70, and $0.60 may be tested but the technical indicator Relative Strength Index (14) remains below the 35-level, suggesting bullish movement for the market.

Nevertheless, BAND/USD may recover toward the upside or extend its decline toward the support level of $1.00. If it crosses above the 9-day and 21-day moving averages, the next major resistance could be found around the $1.50 level as the coin may hit the resistance levels of $1.70, $1.80, and $1.90. If not, there is a risk of more downsides below the lower boundary of the channel.

Against Bitcoin, the daily chart shows that the Band Protocol price is hovering below the 9-day and 21-day moving averages. If the price heads toward the upper boundary of the channel, there is a possibility that the coin may create additional gains and the next resistance key could be closed to 500 SAT. If the price rises, it could even break the 550 SAT and above in future sessions.

However, should the sellers return to the market, 400 SAT support may play out, and any further bearish movement could roll the coin to the critical support at 380 SAT and below. The Relative Strength Index (14) is moving to cross above the 30-level, suggesting bullish signals.

Alternatives to Band Protocol

The Band Protocol price is likely to trend to the upside as the technical indicator Relative Strength Index (14) moves to cross above the 35-level which indicates that the market may follow an uptrend. Looking at the daily chart, the 9-day moving average may also need to cross above the 21-day moving average which could allow the buyers to concentrate on stirring action to the north. Meanwhile, the exponential growth of the Wall Street Memes community, coupled with the early success of the project’s presale phase, has led many in the investment community to speculate that WSM could be poised to replicate Pepe’s success. The token aims to cash in on a growing market as almost $ 6 million has been raised in the presale.

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