Bancor’s price increases after Coinbase is listed

Bancor (BNT) price increased by over 28% in 24 hours as traders prepare to list the ticket on Coinbase’s large crypto exchange

Bancor token is among the three newly listed tokens on the Coinbase Pro cryptocurrency trading platform that have seen their respective prices post huge gains in the last 24 hours.

Bancor’s price against the US dollar has pocketed more than 28% to hit $ 1.41 highs. At the time of writing, the cryptocurrency is trading at around $ 1.33 and looks ready to rebut the intraday highlights as bulls target another upside that would bring in $ 2.0.

The other two tickets to see price increases left Coinbase was announced Aave (AAVE) and Synthetix (SYN) are trading support. AAVE is up 6.7% to trade around $ 87.17 right now, while SYN / USD is changing hands around $ 5.25 after surging nearly 11%.

Price BNT / USD

IntoTheBlock Price In / Out of Money data shows that bulls face a relatively easy upside down path. As per the chart below, the BNT price at the current level of $ 1.33 faces no major resistance until about $ 1.66. If bulls exceed the expected rejection at the level, the next target will be $ 2.

Bancor price and areas of support / resistance as per IOMAP metric. Source: IntoTheBlock

Should the short-term bullish momentum fade, the price of BNT will likely fall to lows of $ 1.15. This is a huge support level with showing that over 1,250 addresses have purchased more than 30 million BNT tickets.

BNT / USD daily chart. Source: TradingView

On the daily chart, the RSI ticks up into the over-thought region. Meanwhile, the MACD is introducing a bullish diversion to suggest bulls are strengthening. The direct resistance line lies at $ 1.40, above and increasing upward pressure will likely push BNT / USD to $ 2.01.

On the downside, a dip below $ 1.30 could push prices to an ascending triangle pattern trend line near $ 1.00. If there is additional bearish action, bulls can try to absorb the sales pressure on the 50-day moving average that is currently sitting at around $ 0.87.

4 hour BNT / USD price chart. Source: TradingView

On the 4-hour chart, Bancor’s price has dipped slightly lower after hitting an upside down barrier at $ 1.40. The level indicates the upper limit of an ascending triangle pattern. Bulls need to crack this line to continue the progress seen over the past few days.

The RSI has begun to dip even though it remains within the over-thought territory. The MACD on the other hand contains a hidden bearish flip that may see bulls struggling to keep prices above $ 1.30.

If bears manage to break below the support level above, BNT / USD could slip into the 50-SMA (4-hour chart) at $ 1.01 and then 200-SMA at $ 0.97.