BAND Price Forecast: Up 88% to $3.1 on Huge Volume Spike, Aims for $10?
Written by Fiona FLast updated:
At the time of writing, a share of BAND was worth $3.10. This is a gain of roughly 88% over the previous 24 hours. A surge in buying interest for BAND has helped the token rise above the market average.
Analysis of BAND prices
Recent days have seen heavy purchasing interest in BAND, which has pushed the stock up by 178% in the previous week. Despite some negative trends, BAND has been trending upwards recently as its ecosystem has seen some promising advancements.
Over the past two days, BAND has been subjected to a barrage of buying interest. An extremely large increase in volatility can be seen in BAND’s current pricing, which has fluctuated between $1.65 and $3.61 in the past 24 hours. If the current buying pressure continues, BAND could stage another rally to re-test the $3.50 resistance level.
Trading volumes for BAND totaled $1.23 billion in the last 24 hours, making it the most actively traded low market size cryptocurrency. Despite the triple-digit growth, BAND is still 86% behind its April 2017 inauguration price of $22.
With the BAND RSI at 47, the buying pressure has diminished and sellers may start flooding in, causing the price to tumble further. It’s worth noting that the Moving Average Convergence Divergence indicates the same potential for a trend reversal, with the price potentially falling much further.
If the price of BAND falls below $2.95, speculative traders will certainly start selling, sending the price down. As the market as a whole is still stabilizing, a quick BAND bounce to $10 seems unlikely.
There has been a surge in BAND since the V2.4 update
BandChain will soon be updated to version 2.4 per Band Protocol’s objectives. The throughput of the oracle will be increased, and the MaxGas per block will be increased to 50M Gas, thanks to the upgrade. Band Protocol has already started the voting process for this upgrade.
The anticipation of this upgrade’s release has sent BAND soaring, since it has the potential to foster the expansion of the Band Protocol ecosystem.
Here are three alternate cryptocurrencies you can invest in
Some of the finest presales are happening right now, so if you’re purchasing BAND as it pumps, you might want to spread your money around.
Dash 2 Trade is one of the products being sold in advance. With the help of Dash 2 Trade, cryptocurrency traders will have access to trading indications, social sentiment, and other resources. Over $4.75 million was raised in the D2T presale.
Another potential presale to put money into is IMPT. The IMPT.io platform’s goal is to reduce emissions, and it’s powered by IMPT. As a green cryptocurrency, IMPT is gaining a lot of attention from ESG investors, and its presale has already brought in over $12 million.
Secondly, there’s the Calvaria pre-sale. Because of its innovative strategy, Calvaria has the ability to attract both traditional and crypto gamers, making it one of the top play-to-earn games. Over 1.36 million USDT has been raised in the RIA presale.
