Banana has encountered a considerable price drop after its massive pump due to the recent listings. Here's an analysis of the levels you should watch now and predictions about the next moves!
1️⃣ One week ago, Banana flashed a golden cross (green crosses above the red line). This is an important bullish signal and (obviously) resulted in a major price pump. However, Banana has managed to keep this momentum so far.
2️⃣ Banana's price trades well above the Ichimoku cloud, further indicating a bullish trend and seconding the above golden cross.
3️⃣ Due to profit takings, Banana experienced a sharp drop after reaching its top. However, the lower boundary of the future cloud ($60) is a strong support. At the same time, the upper boundary ($65) reflects a resistance zone.
➡️ What's next?
If Banana breaks below the 60-level, we could see a stronger drop toward the upper cloud level, located at ~50 USD.
On the other hand, if Banana can move above 65 USD and flip this level into support, we are all set for a bullish continuation. The first target, in this case, is 72 USD.
BANANAUSDT
1️⃣ One week ago, Banana flashed a golden cross (green crosses above the red line). This is an important bullish signal and (obviously) resulted in a major price pump. However, Banana has managed to keep this momentum so far.
2️⃣ Banana's price trades well above the Ichimoku cloud, further indicating a bullish trend and seconding the above golden cross.
3️⃣ Due to profit takings, Banana experienced a sharp drop after reaching its top. However, the lower boundary of the future cloud ($60) is a strong support. At the same time, the upper boundary ($65) reflects a resistance zone.
➡️ What's next?
If Banana breaks below the 60-level, we could see a stronger drop toward the upper cloud level, located at ~50 USD.
On the other hand, if Banana can move above 65 USD and flip this level into support, we are all set for a bullish continuation. The first target, in this case, is 72 USD.
BANANAUSDT
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I'm Ben. Crypto lover, trader, and coder.
Join my free newsletter for insights and the hottest trade setups every weekday!
newsletter.bencrypto23.com
🔥 For exclusive content: newsletter.bencrypto23.com/exclusive
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.