In this Bancor Network technical analysis, we will examine the current price action, trading volume, key levels and indicators for BNT-USDT. Bancor Network (BNT) is a decentralized liquidity pool that enables users to trade tokens directly, without the need for intermediaries. BNT’s smart contract-based platform allows for continuous liquidity and automated price discovery, ensuring efficient and secure token swaps. By leveraging Bancor Network, users can access a wide range of tokens and cryptocurrencies, all within a single interface.
Bancor Network Price Overview:
As of May 14, 2024, Bancor Network is trading at approximately 0.6633 USDT. Let’s dive into the detailed price action for BNT-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.6692 |
| High (H) | 0.6767 |
| Low (L) | 0.6521 |
| Close (C) | 0.6633 |
| Volume (C) | 3,323,332.70 |
- Open (O): The opening price for today’s trading session was approximately 0.6692 USDT.
- High (H): Bancor Network reached a daily high of around 0.6767 USDT.
- Low (L): The daily low for BNT-USDT was approximately 0.6521 USDT.
- Close (C): At the time of analysis, Bancor Network is trading near its daily close of 0.6633 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -0.88% |
| 3D Change (%) | -1.62% |
| 7D Change (%) | -3.52% |
| 30D Change (%) | -11.12% |
| 90D Change (%) | -18.80% |
| YTD Change (%) | -9.64% |
Over the past three days, BNTUSDT has decreased by approximately -1.62%, showcasing increased market volatility. Throughout the last week, it continued to fall, with a loss of around -3.52%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with BNTUSDT maintaining a downward trend of approximately -11.12%, despite intermittent fluctuations. Examining the last 90 days, BNTUSDT has witnessed substantial drop of approximately -18.80%, reflecting strong long-term confidence. Year-to-date, BNTUSDT has steadily dropped by around -9.64%, 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-USDT 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 0.30525.
- Momentum score is -0.10292.
BNT USDT Technical Analysis
Bancor Network Trading Volume:
The trading volume for Bancor Network (BNT) over the past 24 hours has been significant, with approximately 3,323,332.70 USDT 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-USDT is currently in the low zone, around 42.21238. This suggests that Bancor Network is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Bancor Network (BNT-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and significant trading volume are low signals for potential downward movement.
Explore Bancor Network’s (BNTUSDT) potential setbacks at 6.63e-01 USDT through bearish technical analysis, emphasizing weakened support and cautionary indicators.
For a deeper dive into the subject, don’t miss our comprehensive analysis on BNT BTC Bancor Network Technical Analysis if you found this post intriguing.
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.