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Home»BITCOIN NEWS»Band Protocol Price Prediction for Today, December 31 – BAND Technical Analysis
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Band Protocol Price Prediction for Today, December 31 – BAND Technical Analysis

By Crypto FlexsJanuary 1, 20243 Mins Read
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Band Protocol Price Prediction for Today, December 31 – BAND Technical Analysis
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The Band Protocol price prediction shows BAND showing strength with a 6.10% gain as the coin prepares to cross the channel.

Band Protocol Forecast Statistical Data:

  • Current Band Protocol Price – $2.05
  • Band Protocol market capitalization – $300 million
  • Band Protocol Circulation Volume – 137.4 million
  • Band Protocol total supply – 141.8 million
  • Band Protocol CoinMarketCap Ranking – 178th

BAND/USD Market

Main level:

Resistance levels: $2.40, $2.50, $2.60

Support levels: $1.70, $1.60, $1.50

Band Protocol Price Prediction for Today, December 31 – BAND Technical Analysis
BANDUSD – daily chart

BAND/USD is crossing the upper boundary of the channel as the coin prepares for an uptrend with a 6.10% gain. According to the daily chart, the candle formation could continue the upward trend, but a slide below the moving average would position the market price south, with the nearest support near $1.95.

Band Protocol Price Prediction: Band Protocol Price Could Return to the Bulls

Band Protocol price is headed to the upside as a rise above the channel could trigger intense buying towards the resistance levels of $2.40, $2.50, and $2.60. Conversely, Band Protocol price is likely to maintain its current market value of $2.05 before heading towards the nearest support level of $1.80. So, if Band Protocol price falls below this support, it is likely to hit the nearest support at $1.70.

Meanwhile, if sellers return to the market, subsequent important supports could be located at the $1.70, $1.60, and $1.50 levels. However, the 9-day moving average remains above the 21-day moving average, showing that the market could rise further if bulls increase buying pressure.

BAND/BTC consolidates in an upward trend

Band Protocol price versus Bitcoin is hovering above its 9-day and 21-day moving averages. Meanwhile, if the coin continues to rise, the nearest resistance level could be above 6000 SAT as technical indicators point to an uptrend.

Band Protocol Price Prediction for Today, December 31 – BAND Technical AnalysisBand Protocol Price Prediction for Today, December 31 – BAND Technical Analysis
BANDBTC – Daily Chart

Looking at the cons; If the coin slips below the 9-day moving average and heads towards the lower boundary of the channel, the nearest support level could be located at 4500 SAT. Therefore, if the price falls further and forms a new low, support may be found below 4000 SAT. On the other hand, if the 9-day MA remains above the 21-day MA, this could mean that the market could be trading bullishly.

Alternatives to Band Protocol

Band Protocol price traded above the 9-day and 21-day moving averages and reached the resistance level of $2.24. If the price crosses the upper boundary of the channel, the coin may continue to rise. Meanwhile, Band Protocol may end today on a better note as the price could make a bullish crossover above the channel.

While Band Protocol ranks 178th on CoinMarketCap with a valuation of $300 million, its recently launched BTCMTX token distinguishes itself through its pioneering approach to meme creation that integrates sophisticated AI technology and tokenized credit mechanisms. With a successful pre-sale that generated $7 million, BTCMTX emerges as an attractive investment prospect given its groundbreaking nature.

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