In this Bancor Network technical analysis, we will examine the current price action, trading volume, key levels and indicators for BNT-BTC. Bancor Network (BNT) is a decentralized liquidity network that enables the seamless exchange of various cryptocurrencies without the need for intermediaries or centralized exchanges. By utilizing a novel smart contract architecture, Bancor Network provides a secure and efficient means of trading digital assets, while also promoting liquidity and stability within the broader cryptocurrency market. Through its innovative design, Bancor Network has established itself as a leading platform for decentralized trading and asset management.
Bancor Network Price Overview:
As of October 02, 2023, Bancor Network is trading at approximately 1e-05 BTC. Let’s dive into the detailed price action for BNT-BTC:
| Metric | Value |
|---|---|
| Open (O) | 2e-05 |
| High (H) | 2e-05 |
| Low (L) | 1e-05 |
| Close (C) | 1e-05 |
| Volume (C) | 35,312.20 |
- Open (O): The opening price for today’s trading session was approximately 2e-05 BTC.
- High (H): Bancor Network reached a daily high of around 2e-05 BTC.
- Low (L): The daily low for BNT-BTC was approximately 1e-05 BTC.
- Close (C): At the time of analysis, Bancor Network is trading near its daily close of 1e-05 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | -4.95% |
| 3D Change (%) | -4.95% |
| 7D Change (%) | -5.33% |
| 30D Change (%) | -10.39% |
| 90D Change (%) | 9.76% |
| YTD Change (%) | -32.01% |
Over the past three days, BNTBTC has fallen by approximately -4.95%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -5.33%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with BNTBTC maintaining a downward trend of approximately -10.39%, despite intermittent fluctuations. Examining the last 90 days, BNTBTC has witnessed substantial rise of approximately 9.76%, reflecting strong long-term confidence. Year-to-date, BNTBTC has steadily declined by around -32.01%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Bancor Network Live Chart:
You can access a live price chart for BNT-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.52604.
- Momentum score is -0.10392.
BNT BTC Technical Analysis
Bancor Network Trading Volume:
The trading volume for Bancor Network (BNT) over the past 24 hours has been insignificant, with approximately 35,312.20 BTC traded against BNT. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): BNT is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Bancor Network is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for BNT-BTC is currently in the neutral zone, around 45.66732. This suggests that Bancor Network is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
Bancor Network (BNT-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.
