Will BAND Price Break Below 200 EMA?

The Band Protocol crypto price continues to exhibit weakness on the technical charts, with bears exerting significant pressure in recent trading sessions. Furthermore, the chart structure favors the bears, and the price resumes to form negative candles, which shows a battle between bears and bulls. 

At the time of writing, the Band Protocol crypto trades at $1.617  with an intraday drop of 1.06%, indicating bearishness. Buyers are making efforts to gain traction in the current market, but they are only able to secure a few significant levels of support. Intraday trading is 7.25 million. Moreover, the BAND crypto price action suggests further volatility in the following sessions.

The Band Protocol crypto is trading in a downward direction on the daily charts and has had a poor performance in the past months. Furthermore, the technical indicators continue to signal bearishness, with no signs of a bullish rebound or bounce occurring below the $1.5 range.

Technical Analysis of Band Protocol Crypto Price in 1-D Timeframe

On the 4-hour charts, the Band Protocol token is currently under the control of the bears. Bulls are not able to breach the range of neutrality. The price action indicates that sellers are persistently pushing back against the bulls below the lower trajectory, causing the gains from the top to wear down.

The relative strength index curve is near the neutral range of 48, indicating negative divergence and bearishness on the charts.

The MACD indicator also suggests a neutral signal and both the moving averages converge, which suggests that a significant move can be shown in the upcoming sessions.

At the time of publishing, Band Protocol crypto (USD: BAND) is trading above the 200-day DMA (daily moving averages), which supports the price trend on the Daily timeframe. 

Moreover, if selling volume counts up then the price might conquer supporting DMA’s by making lower highs and lows. Therefore, the BAND price is expected to move downward direction giving a bearish outlook over the daily time frame chart.

The current value of RSI is 44 points. The 14 SMA is above the median line at 44 points which indicates that the Band Protocol crypto is neutral.

The MACD line and the signal line are close to the zero line. A bearish crossover is observed in the MACD indicator which signals more bearishness for the BAND crypto price.

Summary

Band Protocol (USD: BAND) technical oscillators also support the neutral trend. The MACD, RSI, and EMA are emphasizing negative signs and imply that the trend is neutral in the BAND crypto price. Band Protocol Price action suggests that the investors and traders are bearish on the 1-D time frame. The price action reflects a bearish perspective at the moment.

Technical Levels

Support Levels: $1.514.

Resistance Levels: $2.00.

Disclaimer

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions

Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.