BTC$41 774.92


ETH$3 118.68




Binance Coin


USD Coin




Band Protocol (BAND): A Bounce or a Deeper Correction

October 2020

Band Protocol (BAND), the token that serves the blockchain network for data oracles, has had an absolutely stunning performance this year as its yearly gains against USD stand at 1,113%, even though the market is in the state of deep correction.

BAND historical chart

The DeFi token also did well against Bitcoin - a 956% gain since the beginning of the year, and Ethereum - a 560% advantage over the second cryptocurrency. Last month, however, was colored red for BAND as it lost more than 30% across the board due to the ongoing correction that became a logical conclusion to the parabolic rise that ran its course when the price made a new all-time high at $17.48. BAND has rolled back by 60% since the ATH that fell in line with the developments on the cryptocurrency market and the quieting of the DeFi frenzy.

On the brink of the bullish bounce

Band Protocol is currently priced at $7.09 on the backdrop of the 12% gain in the last 24 hours. The market capitalization of the 73rd currency also suffered a significant decrease because of the correction and fell from $344 million to the present $145 million, while the average daily trading volume in the last 30 days fluctuated between $110 million and $330 million, though, at the beginning of July, it was barely exceeding $10 million. It comes to show that the demand for BAND remains high despite the losses, and traders are using the protracted bearish pause to accumulate more tokens before the presumed second phase of the uptrend commences. But the current situation on the macro level dictates that the participants might not see another episode of explosive bullish action for the next two to three months because of the traditional fragility of the cryptocurrency market in autumn.

The situation on the weekly time frame sees the price making the last effort to resolve the big bullish flag pattern to the upside, which might happen if BAND bounces off the middle line of Bollinger Bands in the direction of $12, while the signal line of MACD denies the bearish crossover.

1-week BAND/USDT chart

The bullish scenario would be viable only if this week’s candle closes above the middle line of BB. Should the price drop to the support line at $4.2, the immediate resolution to the upside would be almost impossible. In that case, we could see the consolidation around the psychological zone at $4 that converges perfectly with the 23.6% Fibonacci retracement level that adds some extra support capabilities. If that level gets broken to the downside, the trip below $2 would appear almost inevitable, especially if MACD would go for a bearish crossover.

The daily time frame shows that the buyers are beginning to push back as the current daily candle has risen above the close of all candles in the potential reverse area, depicted on the chart below.

1-day BAND/USDT chart

If the week of price action closes above that area, we could see a bounce to $10 that would bring the price back above the 50 EMA. The possibility of the upside recovery is further increased by the bullish crossover that is about to occur on MACD. In doing so, the price will remain above the 200 EMA, thus increasing the probability of uptrend restoration.

Author: Alex Paulson for


Band Protocol (BAND): Determining the Retracement Depth
Band Protocol (BAND): Determining the Retracement Depth
Band Protocol (BAND) Aims at a New All-Time High
Band Protocol (BAND) Aims at a New All-Time High

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 68.4% 61 $41 774.92 -1.51% -4.69% $790 978 008 201 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 62.4% 77 $3 118.68 -1.45% -7.60% $371 830 760 833 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 93.2% 1 $1.000320 -0.02% 0% $78 339 642 559 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 71.6% 59 $466.91 -0.67% -4.12% $77 094 686 457 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 92% 1 $1.000410 0.03% 0.03% $45 996 617 886 USDC 7 days price change
6 Cardano (ADA) ADA Cardano predictions 75.2% 51 $1.34 -9.23% 3.04% $44 862 610 713 ADA 7 days price change
7 Solana (SOL) SOL Solana predictions 62.4% 82 $136.01 -3.30% -10.60% $42 727 088 409 SOL 7 days price change
8 XRP (XRP) XRP XRP predictions 66.8% 66 $0.741075 -2.05% -7.24% $35 321 959 717 XRP 7 days price change
9 Terra (LUNA) LUNA Terra predictions 74% 56 $80.80 0.51% 0.71% $28 879 627 990 LUNA 7 days price change
10 Polkadot (DOT) DOT Polkadot predictions 72% 51 $24.15 -4.13% -11.76% $23 854 220 686 DOT 7 days price change
11 Dogecoin (DOGE) DOGE Dogecoin predictions 76.8% 46 $0.162274 -2.55% 1.56% $21 529 056 131 DOGE 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 60.8% 81 $83.56 -3.11% -11.61% $20 417 555 600 AVAX 7 days price change
13 SHIBA INU (SHIB) SHIB SHIBA INU predictions 71.2% 61 $0.000027 -3.13% -14.21% $15 094 146 945 SHIB 7 days price change
14 Polygon (MATIC) MATIC Polygon predictions 70.4% 59 $2.05 -5.04% -12.70% $15 023 124 537 MATIC 7 days price change
15 Binance USD (BUSD) BUSD Binance USD predictions 91.2% 1 $0.999348 -0.14% 0% $14 332 300 070 BUSD 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2022

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.