Bancor Price Prediction – Will BNT Price Hit $10 in 2021?

This Bancor (BNT) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into account upon coming up with our BNT price analysis and prediction.

There are many cryptos that spiked to a new all-time during this 2021 bull run. In contrast, some crypto also faced a downtrend position. As a result, many crypto traders are worried about whether it is time to hold or sell their crypto. This is also the same case that traders are experiencing in BNT.

Nevertheless, the crypto market is consolidating lately, and many cryptocurrencies are losing their previous profits. Will BNT experience the same price volatility? We’ll find out shortly in this BNT price analysis 2021 article. But first, let’s have a look at what BNT is.

What Is Bancor (BNT)?

Bancor consists of an array of smart contracts that manage the on-chain exchange of tokens. Moreover, the protocol develops an effortless and fast change token without needing to go through an exchange. In addition, the protocol’s smart contracts handle the liquidity pools that combine different tokens present in the network.

More so, the major token utilized on the network is the “Bancor Network Token,” BNT. Presently, Bancor and Uniswap are the frontrunners for this new trend of DeFi.

Now that we have an idea about BNT, do you think BNT will be profitable crypto in 2021? Join me and let us see the charts in this BNT price prediction.

BNT Current Market Status

As of the time of writing this Bancor technical analysis, BNT trades at $4.13 with a 24-hour trading volume of $62,785,131. The price of BNT has increased by 4.84% in the last 24-hours.

Furthermore, BNT has a current circulating supply of 209,854,419.62 BNT. Currently, the top crypto asset trading platforms for BNT are Binance, Huobi Global, OKEx, FTX and CoinTiger.

Now, let’s proceed to the next part of this BNT technical analysis for 2021.

Bancor (BNT) Price Analysis 2021

Currently, BNT holds the 105th place on CoinGecko. But will the latest upgrades, developments, and changes in the BNT blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this BNT price prediction article.

Based on the chart above, BNT positions itself along with the raging bulls. Today, BNT trades at a high price of $4.13. In addition, we can see that BNT recently performed an Ascending Channel pattern. An ascending channel is the price action that occurs in an upward direction through a rising parallel line.

More so, the chart shows the Higher Highs and Higher Lows form this price pattern. In addition, this pattern represents a short-term bullish.

In other words, BNT is gearing itself for a possible bullish rally in the days to come. If this happens, the crypto might go beyond its resistance level and reach the bullish price. Of course, this is most likely to happen if the bullish market continues to reside with BNT.

Conversely, if the bulls turn against the crypto, the price of BNT might fall. In short, BNT might break out from its uptrend position and nosedive to a bearish price. Indeed, this price level is not a good picture in the eyes of the investors.

The Relative Strength Index (RSI) is close to 41.44, which means that BNT is in a neither overbought nor oversold state. Hence, this may lead to a price reversal at any given time. 

Therefore, traders must trade crypto carefully and must not be affected by the market hype. Keeping all this in mind, traders can be aware and move away from unexpected losses due to the crypto market’s wild swings.

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of BNT.

Since the start of 2021, BNT’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, BNT has a competitive market this 2021.

Bancor (BNT) Price Prediction 2021

The chart below shows that BNT has performed great over the past few days. Moreover, the BNT price over 12% in the last 3 days. If this trend continues, BNT might run along with the bulls, overtaking its $6.78 resistance level and reach higher.

Conversely, if the investors turn against the crypto, the bears might take over and dethrone BNT from its uptrend position. In simpler terms, the price of BNT might drop to almost $3.68, a bearish signal.

Meanwhile, our long-term BNT price prediction 2021 is bullish. It has a high possibility of surpassing its current all-time-high (ATH) at about $10. However, it is impossible for BNT to reach this level within this year.

Bancor (BNT) Price Prediction 2022

If this bullish trend continues, BNT will reach $15 by the end of 2022. Moreover, the first half of 2022 is going to show rapid growth, up to $20. Then the rise will slow down, but no major falls are expected. With upcoming, partnership, and developments reaching $15 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

Bancor (BNT) Price Prediction 2023

If BNT holds the support level around 200-MA which is the long-term moving average, buyers will then have ample time and stability to forge the next attack mission on the vital level at $40, making it not plummet but play consistently.

Bancor (BNT) Price Prediction 2024

As per the latest upgrades, developments, BNT price prediction, and new project forecasts of the platform, BNT investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of BNT in the crypto market, and it will be the best investment as the price can spike and reach around $75.

Bancor (BNT) Price Prediction 2025

In the next four years, BNT prices could rise up to $100. More so, reaching this level could not be so difficult for BNT as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that BNT has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Conclusion

BNT has a bright future ahead of it in 2021. With the ongoing developments happening within the BNT ecosystem, as well as in the overall crypto market, we may see BNT reach new heights.

Bullish BNT price prediction 2021 is $6.78. As said above, it may even reach $10 if investors have decided that BNT is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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