- BNT token price continues to grow in an uptrend in the daily chart.
- BNT trades moves just above all the crucial EMA that may soon attain a bullish alignment.
- The token pair BNT/BTC trades with a gain of +0.95% at 0.00009041 BTC.
BNT token price value has been increasing in an uptrend with the gradual formation of higher high as the demand became more frequent near the 20-day EMA. Every bullish-up movement created a new higher high, and it is now trading higher than the 200-day EMA.
The crypto asset has increased by more than 65% in the past month. The bullish uptrend has resulted in the rise of all the EMAs that may soon result in bullish crossovers in the daily chart.
Investors could observe a price jump of 20% to 30% if the price breaks above the bullish pattern. Conversely, investors could observe a fall of the same magnitude or even worse if prices plunge dramatically.
The BNT token is currently trading at $4.25, with a -2.10% market capital fall within the past day, projecting a decreasing growth rate as the price struggles to rise above.
The intraday trading volume of BANCOR has grown by 22% in the past 24-hours, indicating a surge of BNT sellers.
Uptrend Becomes Questionable In BNT Price Chart
The 4-hour price chart shows that BNT token prices saw an increase in trading volume. However, the price action struggles to rise above the resistance zone. As evident by the frequent reversals from the zone.
The technical analysis of pivot points (Traditional, Auto) suggests that a bullish breakout could have difficulties rising above $4.70 to $5.1. However, if prices break the 50-period EMA, the bearish tendency could drop as low as $3.70 or even $3.
The RSI indicator (Bearish) indicates bearish momentum as the slope of RSI falls.
The ADX indicator signifies a boom in the momentum of the price trend.
Overall, the trend is growing weak, and the underlying bearishness is rising, according to the ADX & RSI.
Conclusion – BNT Token Price may enter a downtrend if it falls below the $3.70 mark.