BAND Technical Analysis: Take The Mark Of $5.13 At Any Cost

Two weeks of active struggle – is it enough to win? And if before that you were constantly defeated for six months? It is difficult to break a strong trend, even using increased trading volumes. This is clearly seen in the BAND weekly chart. Buyers were unable to keep $5.13. BAND stopped falling slightly lower in the range of $3.73. But what is this range? In the history of BAND cryptocurrency trading, it can be seen that the BAND price has always been in this range for a very short time. For the most part, these were false breakdowns of $5.13. This time, buyers could not aggressively raise the price above $5.13. https://www.tradingview.com/x/QUinje8o/ For the second week in a row, buyers are trying to regain control of local lows in May 2021. At the moment, the probability of a new growth trend is quite low. The optimistic scenario for the BAND cryptocurrency is to continue the consolidation in the blue range and the formation of large positions for a new growth wave. But, if the price stays below $3.73 – we will see a new powerful fall wave with the first target of $1.7. Technical Analysis Of BAND On The Daily Timeframe https://www.tradingview.com/x/4OK97Zf0/ Analyzing the movement of the BAND price on the daily timeframe, you can see the local culmination of purchases. Yes, buyers are still keeping their trend line. Trading volumes for the breakdown of the $5.13 mark are growing. However, pay attention to how aggressively sellers behave when the price approaches the mark of $5.13. Two attempts at high volumes ended in false breakdowns. Moreover, the last false breakdown could not update the high of the first one. While mark of $4.4 is under buyers’ control, we will expect new attempts to break the mark of $5.13. However, given the general trend of price movements, it is more likely to start a new local correction with the final target of $3.44. Narrow consolidation is clearly visible in this range on the daily timeframe. This consolidation is the last hope of buyers for a bright future. The BANDBTC Price Is Trying To Accelerate Its Downward Trend https://www.tradingview.com/x/yW9J4FVO/ Starting from 13 September, the BANDBTC price entered a complete depression. In addition to the fact that the price is moving in a long downward channel, the downward trend began to accelerate. So far, it is not noticeable at local lows. However, local highs began to grow below and did not allow buyers to make full-fledged rollbacks. Decreased volatility at local lows may indicate a reversal of the market. But, this requires us to stop updating local low if buyers can keep the range 0.00001186 then this will be the first signal for a risky purchase of BANDBTC. Otherwise, the price will fall to 0.00000755 and this can only be the first target.

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