- Banano price broke down from the $0.00860 support level.
- A sharp fall of 4.64% has been observed in the BAN/USDT intraday.
- The trading volume increased by 43.23% in the last 24 hours.
Powered by Directed Acyclic Graph, Banano (BAN) is a feeless, instant, rich in potassium cryptocurrency. The currency was the hard fork of the Nano coin in 2018, and the current team behind features members that had previously worked at Nano. Users can participate in airdrops, Banano crypto faucets, and more after obtaining Banano tokens.
Banano Six Month Returns Exceeds 100%
BAN crypto price has reflected a potential reversal from the $0.0037 support in October 2023. The cryptocurrency delivered a tremendous amount of returns for six consecutive months, surging over 420%. However, the price is facing some adverse remarks in the current month due to the profit bookings that started from the $0.0199 supply zone.
Banano has released 1.56 billion BAN tokens from the total supply of 1.91 Billion. The current market capitalization of the circulating supply is at $12.74 Million. It is ranked 1060th out of 9,371 active cryptocurrencies.
The maximum supply of the cryptocurrency has yet to be revealed. However, the project’s fully diluted valuation is estimated at $15.63 Million. The lack of transparency in the supply can lead to a lack of trust in the digital asset.
Price To Volume & Social Dominance Analysis
The social buzz of cryptocurrency has gained noticeable attention since March 20, 2024. This reflects an increase in bullish sentiments about the BAN token. The social buzz of BAN crypto is covering 0.397% dominance in the crypto world.
The 24-hour trading volume of the token has reached $37.50K, ranking 3597th, according to CoinMarketCap.com. The volume-to-market capitalization ratio (VMR) is at 0.29%, reflecting lower liquidity in the digital asset.
Technical Analysis of the Banano (BAN) Token Price

The current price slipped below the 50-day key exponential moving average. It is moving between the 200-day and the 50-day EMAs, reflecting an uncertainty in the direction. The 200-day EMA can act as a major dynamic support.
Banano price have been facing heavy selling from the $0.0199 resistance since March 13, 2024. The price experienced over 60% downfall from that resistance. Recently, it has given a breakdown from the $0.00860 support and is moving toward the $0.00700 support.
However, the token also gained positive reactions from the bulls on multiple bullish POIs but failed to generate substantial bullish strength. The price will drop on the $0.00565 support if it slips below $0.00772.
The relative strength index (RSI) reflected a strong internal bearish divergence in the price momentum. This reflects that the bears are dominating the current market price. The RSI is moving 42.91 below the signal line.
Summary
Banano price have shown a very positive growth from October 2023. The cryptocurrency is still able to sustain above 100% returns after witnessing a heavy fall from the $0.0199 resistance. The BAN price is moving toward the $0.00700 support at press time. It will drop on the $0.00565 support if it slips below $0.00772. However, a closing above $0.01014 can lead to another bullish rally.
Technical Levels
- Resistance Levels: $0.01014 and $0.01305
- Support Levels: $0.00772 and $0.00649
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational purposes only. They do not establish financial, investment, or any other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Dr. Naveen Singh is an entrepreneur with achievements in sports, academics, healthcare, innovation, blockchain technology, telecommunications, and philanthropy. He is the Co-Founder and Chief Executive Officer (CEO) of Inery, the first layer-1 blockchain programmed for database management. With Inery, he aligns with his vision of a new paradigm for data to empower web3 and complete decentralization.