Bancor Price Analysis: BNT Ready to Escape the Falling Wedge Pattern or remain Stuck?

• Bancor price is trying to surge inside the falling wedge pattern over the daily price chart.
• The crypto asset is trading below the 20, 50, 100, and 200-day Daily Moving Average.
• The pair of BNT/BTC is at 0.00002585 BTC with an intraday gain of 3.85%.

Bancor price is trying to surge over the daily price chart. The token gathered support from the lower trendline of the falling wedge pattern and is heading upwards. BNT investors need to wait for any directional change over the daily price chart. However, trading volume is under the control of bears and showcases that BNT is facing short-selling pressure already. BNT still needs to attract more buyers in order to maintain the uptrend momentum.

Bancor’s price is presently CMP at $0.54 and has gained 5.45% of its market capitalization in the last 24-hour period. In contrast, trading volume has decreased by 9.54% in the intraday trading session., This signifies that bears accumulate to pull BNT back towards the lower trendline. The volume to market cap ratio is 0.1804.

BNT coin price is trying to sustain at the current level; after surging upto a sure instinct. BNT bulls are trying to push the token whereas bears are trying to short the market of the BNT coin. Volume change can be seen below average and needs to grow for BNT to maintain its uptrend momentum over the daily price chart. 

Support on the lower end is at $0.45 and resistance on the higher side is at $0.75.

What do Technical Indicators suggest about BNT? 

BNT coin price must sustain at the current level to maintain its uptrend momentum over the daily price chart. Technical indicators suggest the uptrend momentum of the BNT coin. The relative Strength Index showcases the uptrend momentum of BNT. RSI is at 24 and is inside the extreme oversold territory. 

MACD exhibits the bullish momentum of the BNT coin. The MACD line is about to cross the signal line for a positive crossover. BNT investors still need to wait for any directional change over the daily price chart.

Conclusion

Bancor price is trying to surge over the daily price chart. The token gathered support from the lower trendline of the falling wedge pattern and is heading upwards. BNT investors need to wait for any directional change over the daily price chart. Volume change can be seen below average and needs to grow for BNT to maintain its uptrend momentum over the daily price chart. Technical indicators suggest the uptrend momentum of the BNT coin.  RSI is at 24 and is inside the extreme oversold territory. BNT investors still need to wait for any directional change over the daily price chart.

Technical Levels

Support Levels: $0.45 and $0.40

Resistance Levels: $0.75 and $0.80

Disclaimer 

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.