Bancor Price Prediction for Today, October 28: BNT/USD Bullish Breakout

From the 22nd of September to the 11th of October, the price of Bancor has been moving sideways. The market began to change on the 11th of October when bulls push the price to $0.6388 from $0.4361. As expected in most cases, with such a strong bullish move, a strong bearish move was also triggered. All the ground gained by buyers for that day was completely lost to the sellers as the price fell back to $0.4361.

Bancor Market Price Statistic:

• BNT/USD price now: $0.4731
• BNT/USD market cap: $95,100,059
• BNT/USD circulating supply: 198,857,635.68
• BNT/USD total supply: 198,857,636
• BNT/USD coin market ranking: #242

Key Levels

•        Resistance: $0.4799, $0.5000, $0.55000
•        Support: $0.4000, $0.35000, $0.30000

Bancor Market Price Analysis: The Indicators’ Point of View

The upper and lower bands of the Bollinger indicator begin converging in early October. They continue to converge despite some successive spikes in the market volatility that we began to see on the 10th of October. This convergence signals the imminent break out that we are seeing playing out on the chart. The Upper band is now responding to today’s price action which (for now) appears to be completely bullish. The RSI line has risen out into the bullish zone measuring 59.6%

BNT/USD 4-Hour Chart Outlook

The general outlooks of the candles in this timeframe are 4-price dojis. The market remains at the opening price throughout the daily trading session. In the second half of yesterday’s trading session, however, the price opened at a high level of $0.4657 and closed lower at $0.4444. The market also opened at $0.4657 which was around the place it had opened previously, but this time, the market takes up a bullish position.

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