BAND Price is showing strong growth. The current market situation is showing an influential bullish momentum. Many cryptocurrencies are already running like Thoroughbreds and they are in the green zone consistently from the past few days. The DeFi market is demonstrating inspiring growth and One such DeFi token, oracle project Band Protocol (BAND) has already gained almost 500% in price in the last 30 days. Let’s take a look at it in more detail.
Band Protocol Price Analysis: BAND Price has gained 500% in 30 days!
BAND Price Analysis of 30 Days: BAND/USD Price 30 Days Chart: Tradingview
As per the 30 days price chart, the Band Protocol (BAND) price is showing an upward trend. Just in the past 24 hours, its price has decreased by almost 1.88%. At the time of writing this, the BAND price is sitting at $13.40 (-1.88%).
If you closely observe then you will find that it is based on a Relative Strength Index (RSI). The BAND/USD price performance (ROI) over the past 30 days, vs USD, has increased by almost 500%. Not only this, its price-performance (ROI) over the past 30 days, vs BTC, has increased by almost 428%. Overall, the BAND price is in a continual upward trend. From the past 12 months, the BAND price has only moved in only one direction and that is upward.
Band Protocol Price Analysis: BAND Price is showing an Upward Trend
BAND price Analysis 1 Day Chart: BAND/USD Price 1 Day Chart: Tradingview
The MACD is not signaling a sell-off but if a correction arrives unexpectedly, for example, due to strong price losses of Bitcoin then the Band Protocol price could find significant support at ± $ 11.35 and ± $10.6.
Now, the Sharpe ratio calculated over the past 30 days of daily returns is almost 11.73 which shows that the greater the value of the Sharpe ratio, the more attractive the risk-adjusted return. Now, the MACD is currently still giving bullish signals, but the upward trend of any cryptocurrency should be viewed with caution.
Now, the range between the lowest and highest trading prices in US Dollars is $13.37 – $13.91. Now, to continue climbing upwards, the bulls require to acquire control. This is why a revision could be the most possible situation within the next few days. The key metrics are as follows:
Price $13.40
24hr Change -1.88%
24hr Vol $183,001,714
https://twitter.com/BandProtocol/status/1293458498315890688?s=20
The Band Protocol has also partnered with CoinMarketCap to launch the first CoinMarketCap Earn Campaign. This could be one of the reasons for a potential bull run.
Conclusion
The reported market cap is $276,212,431.30. The market cap dominance is now almost 0.0793% and when it comes to longer timeframes, the BAND/USD price weekly chart is fiercely bullish with a strong uptrend and surprisingly weak resistance to the upside. Bulls also succeeded to build a few support levels on the way up which should support BAND price in case of a pullback. The cap is still really small but it could be a decent buy considering the progress and other technical indicators. We wish you very happy trading!