The Band Protocol price prediction reveals that BAND is moving bullishly with a gain of 6.10%, as the coin prepares to cross above the channel.

Band Protocol Prediction Statistics Data:

• Band Protocol price now – $2.05
• Band Protocol market cap – $300 million
• Band Protocol circulating supply – 137.4 million
• Band Protocol total supply – 141.8 million
• Band Protocol Coinmarketcap ranking – #178

BAND/USD Market

Key Levels:

Resistance levels: $2.40, $2.50, $2.60

Support levels: $1.70, $1.60, $1.50

BAND/USD is crossing above the upper boundary of the channel as the coin prepares for the upside with a gain of 6.10%. According to the daily chart, the candle formation may continue to respect the upward movement, but sliding below the moving averages might position the market price toward the south while the closest support level could be located around the $1.95 level.

Band Protocol Price Prediction: Band Protocol Price May Reclaim the Upside

The Band Protocol price is heading to the upside as an increase above the channel could trigger intense buying to the resistance levels of $2.40, $2.50, and $2.60. On the contrary, the Band Protocol price may likely hold the current market value at $2.05 before heading to the nearest support level of $1.80. Therefore, if the Band Protocol price drops below this support level, it may likely hit the closest support at $1.70.

Meanwhile, the critical support after this could be located around the $1.70, $1.60, and $1.50 levels if the sellers return to the market. However, the 9-day MA remains above the 21-day MA revealing that the market may gain more upwards if the bulls increase the buying pressure.

BAND/BTC Consolidates to the Upside

Against Bitcoin, the Band Protocol price is hovering above the 9-day and 21-day moving averages. Meanwhile, if the coin continues to rise, the nearest resistance level could be at 6000 SAT and above as the technical indicator points to the upside.

Looking at the downside; if the coin slides below the 9-day moving average and heads toward the lower boundary of the channel, the nearest support level could be located at 4500 SAT. Therefore, if the price falls further to create a new low, the support could be found at 4000 SAT and below. Meanwhile, if the 9-day MA remains above the 21-day MA, this could mean that the market may trade bullishly.

Alternatives to Band Protocol

The Band Protocol price is trading above the 9-day and 21-day moving averages to hit the resistance level of $2.24. The coin may continue to rise if the price crosses above the upper boundary of the channel. Meanwhile, Band Protocol could end this day on a better note, as the price could make a bullish cross above the channel.

While Band Protocol holds the 178th position with a $300 million valuation on CoinMarketCap, the recently launched BTCMTX token distinguishes itself through its pioneering approach to meme creation, integrating sophisticated AI technology and a tokenized credit mechanism. With a successful presale that garnered $7 million, BTCMTX emerges as an enticing investment prospect, given its groundbreaking attributes.

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• Source: https://insidebitcoins.com/news/band-protocol-price-prediction-for-today-december-31-band-technical-analysis