Majority of the top crypto tokens rose on Tuesday, while others dropped slightly. The crypto market remains optimistic that BlackRock will be successful with its application for a bitcoin spot exchange-traded fund. The recent downturns are expected to be in a correction phase.
Band Protocol(BAND) is a platform for cross-chain data oracles that can retrieve real-world data and deliver it to on-chain applications. Additionally, it establishes a connection between APIs and smart contracts to enable the seamless exchange of information between on-chain and off-chain data sources.
The weekly trend for BAND had been on the decline since May of 2022. The past few days have seen a steady rise in the price with the chart on the verge of a breakout from the descending trendline. The weekly RSI has nearly touched the 50-level indicating a buy signal. The next resistance is expected at $1.55 and an immediate support is expected at the $0.855 mark.
Major Levels:
Support: $0.55, $0.50
Resistance: $0.72, $0.90, $1.15(Views and recommendations given in this section are the analysts’ own and do not represent those of Business Today. Please consult your financial adviser before taking any position in the asset/s mentioned.)
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