BNT BTC Bancor Network Technical Analysis

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By Frans van Elst

Bancor Network logo 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 pool that enables users to trade and convert tokens across different blockchain networks. BNT utilizes a novel token-based mechanism to facilitate the conversion of one token for another, without the need for intermediaries or order books. This allows for faster, more secure, and more private transactions, making it an attractive option for traders and investors alike.

Bancor Network Price Overview:

As of April 16, 2024, Bancor Network is trading at approximately 1e-05 BTC. Let’s dive into the detailed price action for BNT-BTC:

Envision bearish outlook for Bancor Network (BNTBTC) at 1.10e-05 BTC with weakened support and cautionary indicators, revealed in technical analysis.

Metric Value
Open (O) 1e-05
High (H) 1e-05
Low (L) 1e-05
Close (C) 1e-05
Volume (C) 116,237.00
  • Open (O): The opening price for today’s trading session was approximately 1e-05 BTC.
  • High (H): Bancor Network reached a daily high of around 1e-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 (%) 0.82%
3D Change (%) -9.94%
7D Change (%) -9.50%
30D Change (%) -12.99%
90D Change (%) -39.62%
YTD Change (%) -36.31%

Over the past three days, BNTBTC has declined by approximately -9.94%, showcasing increased market volatility. Throughout the last week, it continued to decline, with a loss of around -9.50%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with BNTBTC maintaining a downward trend of approximately -12.99%, despite intermittent fluctuations. Examining the last 90 days, BNTBTC has witnessed substantial fall of approximately -39.62%, reflecting strong long-term confidence. Year-to-date, BNTBTC has steadily dropped by around -36.31%, 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 0.49779.
  • Momentum score is -0.13537.

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 116,237.00 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 low zone, around 37.31117. This suggests that Bancor Network is in bearish 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 low RSI and insignificant trading volume are low signals for potential downward movement.

Envision bearish outlook for Bancor Network (BNTBTC) at 1.10e-05 BTC with weakened support and cautionary indicators, revealed in technical analysis.

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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.

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