Band Protocol Tops the Charts, But Keep an Ear Out for This Presale's Debut!

Band Protocol Tops the Charts, But Keep an Ear Out for This Presale’s Debut!

Updated: 16 October 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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BAND has undergone an extended consolidation phase, reflecting a significant battle between bullish and bearish forces over its price direction.

Despite this, the bulls have established robust support at $0.94, resulting in a significant price breakout (indicated by the green candlestick) with an impressive surge of over 40%.

BAND/USD Chart Analysis. Source: Tradingview.com — BANDUSD Chart Analysis. Source: Tradingview.com

Furthermore, the price has exceeded both the 50-day and 200-day moving averages, with these averages now positioned below the price action, functioning as pillars of support and bolstering the overall bullish sentiment. The 50-day moving average is immediate support for BAND, potentially encouraging the bulls to drive the price toward the resistance level at $2.09.

In addition, the relative strength index (RSI) indicates a gradual increase in its bullish momentum, rebounding from 23 and presently sitting at 77 on a bullish trendline. Should this momentum be sustained, the RSI may remain above the overbought threshold of 70, potentially surging to 90 in the coming weeks of Q4 of 2023.

How Far Can BAND Reach In Q4 of 2023?

The weekly chart for BAND reveals a double bottom pattern, a strong signal of a potential bullish trend reversal. With the bulls currently dictating the price action, the 50-day moving average might pose a significant challenge to surmount.

BAND/USD Weekly Chart by TradingView.com — BANDUSD Weekly Chart by TradingView.com

BAND shows promise in exceeding the 50-week simple moving average, which could drive the bulls to advance the price to the $2.52 resistance level. The weekly RSI trending at 55, indicating significant buying pressure, reinforces this potential.

In light of this analysis, there is ample opportunity for buyers to recoup their losses sustained during the bear market.

On the flip side, if the 50-day simple moving average (SMA) continues to offer strong resistance, the bears could exert downward pressure on the price, potentially pushing it down to $0.94.

Meanwhile, BTCMTX has witnessed a notable surge in its presale project, drawing in investors with its stake-to-mine feature and reaching half its intended soft cap.

BTCMTX Presale Approaches Stage 2, Buy Fast

Bitcoin Minetrix (BTCMTX) project is in its stage 2 presale phase with only 13 days left, having already secured a remarkable $1,589,250 in funding. The token price is $0.011 and will rise as it progresses to the next presale phase.

BTCMTX aims to raise over $15 million through this fair presale, offering investors up to 77.5% of the total token supply. The remaining 22.5% will be allocated for community initiatives and staking rewards, encouraging community engagement and token stability.

The funds generated from the presale will be used to launch the Bitcoin Minetrix platform and promote the token. The project’s ultimate goal is to establish a cloud mining plant or secure a long-term rental of a cloud mining facility.

BTCMTX Stake-to-Mine, High APY

Bitcoin Minetrix is at the forefront of a new stake-to-mine methodology, combining cloud mining and token staking. One of the attractive features of BTCMTX is its high annual percentage yield (APY) for staking, which stands at an impressive 374%. During this presale phase, 111 million tokens have already been staked.

To eliminate doubts about cloud mining, tokenization is a key benefit that makes it easier for more people to use and eliminates the need to buy cash contracts from mining companies.

#BitcoinMinetrix vs Conventional Cloud Mining

Risk Assessment: 📊#BTCMTX = Smooth withdrawals and selling options.

Traditional cloud mining = Zero reimbursements, payouts influenced by market volatility. pic.twitter.com/JZx2fqt3bB

— Bitcoinminetrix (@bitcoinminetrix) October 15, 2023

When staked within an Ethereum-powered smart contract, the BTCMTX token is the access key to Bitcoin cloud mining. Users can easily acquire and stake BTCMTX tokens to acquire credits for cloud mining, which can be exchanged for hash power. This decentralized approach protects users’ interests, ensuring a transparent and secure mining experience.

By staking BTCMTX tokens, one can acquire non-transferable ERC-20 tokens known as cloud mining credits. These secondary tokens must be exchanged for designated BTC cloud mining time or a percentage of mining returns. Keeping mining credits as non-tradeable tokens guarantees their integrity remains intact.

Be Part of $30,000 Minedrop Winners

BTCMTX has also introduced a Minedrop Competition, offering a $30,000 airdrop where ten lucky participants can win BTCMTX tokens, each valued at $3,000.

🎉 #BitcoinMinetrix $30,000 Minedrop Is Now Live! 🎉

Get ready for your chance to win a share of $30,000 in $BTCMTX!

Follow the steps in the link below for the chance to win one of ten $3,000 $BTCMTX Prizes! 💰
➡️ https://t.co/v1UKskxi4Y pic.twitter.com/nseOBTNO9N

— Bitcoinminetrix (@bitcoinminetrix) October 5, 2023

Stock Investor, a popular YouTuber with over 28,000 subscribers, has expressed his confidence in the project by explaining how to buy and profit from its staking features.

You can bag some BTCMTX tokens easily. Head over to the Bitcoin Minetrix official site, connect your Web3 wallet, and acquire the BTCMTX token through bank cards or by exchanging ETH, BNB, or USDT for BTCMTX.