Bancor Price Prediction for Today, February 7: BNT/USD Rises Above $0.45 Level

The Bancor price prediction may continue to settle above the 9-day and 21-day moving averages as the coin heads to the upside.

Bancor Prediction Statistics Data:

• Bancor price now – $0.47
• Bancor market cap – $77.1 million
• Bancor circulating supply – 159.3 million
• Bancor total supply – 159.3 billion
• Bancor Coinmarketcap ranking – #324

BNT/USD Market

Key Levels:

Resistance levels: $0.52, $0.54, $0.56

Support levels: $0.39, $0.37, $0.35

Looking at the daily chart, BNT/USD continues to trade above the 9-day and 21-day moving averages within the channel. However, the cryptocurrency is now trying to create a higher ground above the resistance level of $0.45, and should the buyers keep the coin above the moving averages, it may remain on the upside. Today, an early trading session makes the Bancor price touch the $0.48 level before rebounding to where it is trading currently at $0.47.

Bancor Price Prediction: What Could be the Next Direction for Bancor?

The Bancor price may stay above the moving averages and if the resistance of $0.50 gives way, the bull run may come to focus, and the coin may create an additional bullish trend. Now, the bullish scenario seems to surface as buyers continue to post firm commitments into the market. According to the daily chart, traders could see a sharp rise in the market price. Therefore, if the coin crosses above the upper boundary of the channel, this could further strengthen the market to $0.52, $0.54, and $0.56 resistance levels.

On the downside, a lower possible swing may likely retest the previous support below the 9-day and 21-day moving averages. However, if the bears manage to fuel the market, traders may expect a further drop to the support levels of $0.39, $0.37, and $0.35 respectively. On the other hand, the technical indicator Relative Strength Index (14) is now moving into the overbought region, indicating that the market may follow the bullish movement.

Against Bitcoin, the Bancor price remains above the moving averages in other to reach the resistance level of 2150 SAT. However, this resistance level is expected to effectively exceed so that the market price may end up closing above it.

Moreover, if BNT/BTC slides below the 9-day and 21-day moving averages, it could refresh lows under 1900 SAT and a possible bearish continuation may likely meet the major support at 1800 SAT and below but if the coin moves above the upper boundary of the channel, it could hit the potential resistance at 2200 SAT and above. However, the technical indicator Relative Strength Index (14) is moving towards the overbought region to give more bullish signals.

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• Source: https://insidebitcoins.com/news/bancor-price-prediction-for-today-february-7-bnt-usd-rises-above-0-45-level