Band Protocol Price Prediction 2023-2030: Will BAND Price Hit $3 Soon?

Band Protocol (BAND) Current Market Status

Band Protocol (BAND) has a circulating supply of 125,699,589 BAND coins, while its maximum supply is not available, according to CoinMarketCap. At the time of writing, BAND is trading at $1.51 representing 24 hours increase of 1.79%. The trading volume of BAND in the past 24 hours is $7,706,381 which represents a 47.71% increase.

Some top cryptocurrency exchanges for trading BAND are  Binance, OKX, Deepcoin, Bitrue, and Bybit.

Now that you know BAND and its current market status, we shall discuss the price analysis of  BAND for 2023.

Band Protocol (BAND) Price Analysis 2023

Band Protocol (BAND) Price Analysis – Bollinger Bands

The Bollinger bands are a type of price envelope developed by John Bollinger. It gives a range with an upper and lower limit for the price to fluctuate. The Bollinger bands work on the principle of standard deviation and period (time). 

The upper band as shown in the chart is calculated by adding two times the standard deviation to the Simple Moving Average while the lower band is calculated by subtracting two times the standard deviation from the Simple Moving Average. When the bands widen, it shows there’s going to be more volatility and when they contract, there is less volatility. 

When Bollinger bands are used in a cryptocurrency chart, we could expect the price of the cryptocurrency to reside within the upper and lower bounds of the Bollinger bands 95% of the time. The above thesis is derived from an Empirical law. 

The sections highlighted by red rectangles in the chart above show how the bands expand and contract. When the bands widen, we could expect more volatility, and when the bands contract, it denotes less volatility. 

Currently, the Bollinger bands are moving downward while they are squeezing, hence, there could be less volatility, as the price moves downwards. Meanwhile, BAND after touching the lower Bollinger band is on the rise. It is closing in on the SMA. If it keeps rising, then BAND could go above the SMA and fluctuate in the first half of the Bollinger. 

Nonetheless, when considering similar scenarios that occurred in the past, we could see that BAND encountered selling pressure when close to the SMA. The recent rejection is one such classic example. Hence, this could be another rejection. As such, buyers may want to wait for BAND to form a few candlesticks more before entering the market.     

In the event that BAN is rejected at the SMA and starts falling back to the lower band, then, it would present an excellent entry point for those eagerly waiting to go long.

Band Protocol (BAND) Price Analysis – Relative Strength Index

The Relative Strength Index is an indicator that is used to find out whether the price of a security is overvalued or undervalued. As per its name, RSI indicators help determine how the security is doing at present, relative to its previous price. 

Moreover, it has a signal line which is a Simple Moving Average (SMA) that acts as a yardstick or reference to the RSI line. Hence, whenever the RSI line is above the SMA it is considered bullish and if it’s below the SMA then it is bearish. 

When considering the first green rectangle from the left of the chart below we can see that the  RSI is above the signal. Hence, BAND is bullish and as a result, it is making higher highs. 

The second green rectangle shows that the RSI line (purple) is below the Signal line (yellow). As such, BAND is bearish or losing value. Therefore it is reaching lower lows as shown in the chart.

Currently, the RSI of BAND is at 42.96 and it is titling parallel to the horizontal axis. More importantly, when considering the grey circles inside the blue rectangle, we could see BAND reciprocating its behavior. More importantly, the RSI value of both seems to be at almost the same position. 

Additionally, the RSI crosses the Signal line from below at these two spots. Hence, if all these add up to a possible reciprocation, we may see BAND spike above $2.00. As such this present an excellent entry point for buyers.   

To properly adjudicate this scenario, it is better for the investors to use another indicator or a combination of indicators. 

Moreover, the RSI could also be used to find out the divergence. For instance, when the token is making higher highs then the RSI should also be making higher highs in unison with it for it to be called a bull run. However, if the RSI does not make higher highs with the token, then we could say that there could be a trend reversal, as the token is losing value despite making higher highs. 

Band Protocol (BAND) Price Analysis – Moving Average

The Exponential Moving averages are quite similar to the simple moving averages (SMA). However, the SMA equally distributes down all values whereas the Exponential Moving Average gives more weightage to the current prices. Since SMA undermines the weightage of the present price, the EMA is used in price movements. 

The 200-day MA is considered to be the long-term moving average while the 50-day MA is considered the short-term moving average in trading. Based on how these two lines behave, the strength of the cryptocurrency or the trend can be determined on average. 

In particular, when the short-term moving average (50-day MA) approaches the long-term moving average (200-day MA) from below and crosses it, we call it a Golden Cross.

Contrastingly, when the short-term moving average crosses the long-term moving average from above then, a death cross occurs. 

Usually, when a Golden Cross occurs, the prices of the cryptocurrency will shoot up drastically, but when there’s a Death Cross, the prices will crash.

Whenever the price of cryptocurrency is above the 50-day or 200-day MA, or above both we may say that the token is bullish (Red rectangle). Contrastingly, if the token is below the 50-day or 200-day, or below both, then we could call it bearish (Blue triangle section).

When comparing the surge that BAND went through at the beginning of 2023, and the present what seems to be like a surge, we could see many similarities. For instance, the price at which both occur is the same, as shown by the horizontal line. Furthermore, 50-day MA was also there and thereabout as it was in 2023. 

However, the only glitch is that BAND had a death cross. Hence, the question is, will this affect BAND’s rise? If BAND is not affected by the death cross, then this would be an excellent position for buyers to enter the market. 

Band Protocol (BAND) Price Analysis – Rate of Change

The Rate of Change Indicator is a momentum oscillator, that measures the change of the current price against the past price a few (n) periods ago, in percentage. As long as the price is rising ROC will be positive. But, the ROC indicator will reach the negative zone when the prices reduce. Increasing values in either direction, positive or negative, indicate increasing momentum, and moving back toward zero indicates diminishing momentum.

Unlike the RSI, ROC has no set overbought or oversold regions, it rather depends on a trader’s discretion. Traders often tend to find the areas in the positive and negative zones where the trend changes have happened in regularity. Based on this they could mark their bounds for overbought and oversold regions.

ROC could also be used as a divergence indicator that signals a possible upcoming trend change. Divergence occurs when the price of a stock or asset moves in one direction while its ROC moves in the opposite direction.

For example, if a stock’s price is rising over a period of time and registering higher highs while the ROC is progressively moving lower, or making lower highs, then the ROC is indicating bearish divergence from price, which signals a possible trend change to the downside. The same concept applies if the price is moving down and ROC is moving higher.

Additionally, the zero line crossover could be used to signal trend changes. However, depending on the number used for n (periods) in the indicator the signals may come in early or late.  

BAND’s extremely overbought regions are marked as Overbought Region 1 at 26.15, Overbought Region 2 at 54.85, and Overbought Region 3 at 75.19. Meanwhile, BAND’s Oversold Regions are marked as Oversold Region 1 at -34.26, Oversold Region 2 at -42.02, and Oversold Region 3 at -56.98.

Currently, the ROC indicates a value of -9.72 and the line is heading towards the zero line. As such the bearish momentum is fading away. Although this present scenario may allure buyers to enter the market, they should take precautions. This is because BAND has rebounded off of the -6.92 region in the past. 

As such, it would be better if buyers wait for the BAND to go past this region or best if they wait for it to cross the zero mark. 

Band Protocol (BAND) Price Prediction 2023-2030 Overview

Band Protocol (BAND) Price Prediction 2023

When considering the chart above, we could see that BAND is fluctuating inside a descending triangle since the beginning of 2023. The sellers were aggressively bringing the price down as BAND kept on making lower highs. 

If BAND continues fluctuating within the descending triangle and completes forming it, we could expect, BAND, to rise up to the upper trend line. Thereafter it may ricochet back to the lower trend line. This offers the scalpers an excellent opportunity to enter the market and make some quick profits.

As such, traders looking to settle for a short position within the triangle should consider having their stop loss at the upper trend line, while the take profit and entry point could be decided at their own discretion. However, once BAND breaks out of the triangle, BAND may land on Support 2 at $1.050, if it follows the classic breakout. 

There also lies a possibility of BAND breaking the upper trend line of the descending triangle and moving higher. If this happens it may reach Resistance 1 at $2.086. From another angle, BAND has the possibility of breaking through Resistance 1 and reaching Resistance 2 at $2.711. 

Band Protocol (BAND) Price Prediction – Resistance and Support Levels

When looking at the chart above, we could see that BAND rose vertically back in June 2020 and briefly fluctuated above the ordinal number 45 (1:1) which is considered to be bullish, when it is on an uptrend. 

Thereafter BAND crashed vertically after a brief period of sliding along the 1:1 line. It found support at the 3:1 Gann line while the 4:1 Line too came to its rescue when the 3:1 line wasn’t able to hold up BAND. After finding Support at the above-stated line BAND saw a sudden spike with the dawning of 2021. 

In particular, BAND rose from the 4:1 Gann line to the 2:1 line, nonetheless, wasn’t able to test or break above the 1:1 line which is considered to be bullish. However, BAND crashed vertically from an almost 1:1 line to an 8:1 Gann line.

After this fall, BAND found some momentum which catapulted it to the 4:1 Gann line. Although, it test the 3:1 line it could not break. As such, BAND started sliding along the 2:1 line. Currently, there seems to exist no diagonal movement as BAND is moving sideways. 

The key takeaway is that BAND has been heavily reliant on the 3:1 and 2:1 Gann lines for support. And it has had strong resistance at the 1:1 Gann line. Hence, traders may want to take note of these to make entries at the stipulated time. 

Band Protocol (BAND) Price Prediction 2024 

There will be Bitcoin halving in 2024, and hence we should expect a positive trend in the market due to user sentiments and the quest by investors to accumulate more of the coin. However, the year of BTC halving hasn’t been a prosperous year for BAND based on the previous halving. Hence, we could expect BAND to trade at a price not below $0.8533 by the end of 2024.

Band Protocol (BAND) Price Prediction 2025

BAND may still experience the after-effects of the Bitcoin halving and is expected to trade above its 2024 price. Many trade analysts speculate that BTC halving could create a huge impact on the crypto market. Moreover, similar to many altcoins, BAND will continue to rise in 2025 forming new resistance levels. It is expected that BAND would trade beyond the $15.02 level.

Band Protocol (BAND) Price Prediction 2026

It is expected that after a long period of bull run, the bears would come into power and start negatively impacting the cryptocurrencies. During this bearish sentiment, BAND could tumble into its support regions. During this period of price correction, BAND could lose momentum and be a little below its 2025 price. As such it could be trading at $4.42 by 2026. 

Band Protocol (BAND) Price Prediction 2027

Naturally, traders expect a bullish market sentiment after the crypto industry was affected negatively by the bears’ claw. Moreover, the build-up to the next Bitcoin halving in 2028 could evoke excitement in traders. However, there will be a dip before BAND actually surges, as such we could expect BAND to trade at around $3.84 by the end of 2027. 

Band Protocol (BAND) Price Prediction 2028

As the crypto community’s hope will be re-ignited looking forward to Bitcoin halving like many altcoins, BAND will continue to form new higher highs and is expected to move in an upward trajectory. Hence, BAND would be trading at $16.88 after experiencing a massive surge by the end of 2028. 

Band Protocol (BAND) Price Prediction 2029

2029 is expected to be another bull run due to the aftermath of the BTC halving. However, traders speculate that the crypto market would gradually become stable by this year. In tandem with the stable market sentiment BAND could be trading at $7.97 by the end of 2029.

Band Protocol (BAND) Price Prediction 2030

After witnessing a bullish run in the market, BADN and many altcoins would show signs of consolidation and might trade sideways and move downwards for some time while experiencing minor spikes. Therefore, by the end of 2030, BAND could be trading at $12.62

Band Protocol (BAND) Price Prediction 2040

The long-term forecast for BAND indicates that this altcoin could reach a new all-time high(ATH). This would be one of the key moments as HODLERS may expect to sell some of their tokens at the ATH point. 

If they start selling then BAND could fall in value. It is expected that the average price of BAND could reach $24.42 by 2040.

Band Protocol (BAND) Price Prediction 2050

The community believes that there will be widespread adoption of cryptocurrencies, which could maintain gradual bullish gains. By the end of 2050, if the bullish momentum is maintained, BAND could hit $33.92.

Conclusion

If investors continue to show interest in BAND and add these tokens to their portfolio, then, it could continue to rise up. BAND’s bullish price prediction shows that it could reach $2.7 level.

FAQ

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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