Bancor Network Token (BNT) Price Prediction 2024, 2025–2030 | CoinCodex (2024)

According to our current Bancor Network Token price prediction, the price of Bancor Network Token is predicted to drop by -11.00% and reach $ 0.436766 by October 15, 2024. Per our technical indicators, the current sentiment is Neutral while the Fear & Greed Index is showing 51 (Neutral). Bancor Network Token recorded 19/30 (63%) green days with 5.40% price volatility over the last 30 days. Based on the Bancor Network Token forecast, it's now a good time to buy Bancor Network Token.

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Based on the historical price movements of Bancor Network Token and the BTC halving cycles, the yearly low Bancor Network Token price prediction for 2025 is estimated at $ 0.422949. Meanwhile, the price of Bancor Network Token is predicted to reach as high as $ 1.30066 next year. Using the same basis, here is the Bancor Network Token price prediction for each year up until 2030.

Bancor Network Token price prediction 2025

The Bancor Network Token price prediction for 2025 is currently between $ 0.422949 on the lower end and $ 1.30066 on the high end. Compared to today’s price, Bancor Network Token could gain 167.03% by 2025 if BNT reaches the upper price target.

Bancor Network Token price prediction 2030

The Bancor Network Token price prediction for 2030 is currently between $ 0.150288 on the lower end and $ 1.64397 on the high end. Compared to today’s price, Bancor Network Token could gain 237.51% by 2030 if it reaches the upper price target.

Bancor Network Token's 50-Day, 200-Day Simple Moving Averages and 14-Day Relative Strenght Index - RSI (14)

Based on our technical indicators, Bancor Network Token's 200-day SMA will drop in the next month and will hit $ 0.615488 by Oct 15, 2024. Bancor Network Token's short-term 50-Day SMA is estimated to hit $ 0.467533 by Oct 15, 2024.

The Relative Strength Index (RSI) momentum oscillator is a popular indicator that signals whether a cryptocurrency is oversold (below 30) or overbought (above 70). Currently, the RSI value is at 50.84, which indicates that the BNT market is in a neutral position.

Popular BNT Moving Averages and Oscillators for Sun, Sep 15, 2024

Moving averages (MA) are a popular indicator in all financial markets, designed to smooth price action over a certain amount of time. They are a lagging indicator which means they are influenced by historical price activity. In the table below you can find two types of moving averages, simple moving average (SMA) and exponential moving average (EMA).

Bancor Network Token Oscillators

An oscillator is a technical analysis tool that constructs high and low bands between two extreme values, and then builds a trend indicator that fluctuates within these bounds. Traders use the trend indicator to discover short-term overbought or oversold conditions.

Bancor Network Token Key Price Levels

Based on today's classical pivot point (P1) with the value of $ 0.486834, Bancor Network Token has support levels of $ 0.482202, $ 0.477647, and the strongest at $ 0.473014. Similarly, Bancor Network Token resistance levels are at $ 0.491389, $ 0.496021, and $ 0.500576.

Bancor Network Token Correlation

Over the past 7 days, Bancor Network Token price was most positively correlated with the price of and most negatively correlated with the price of .

Bancor Network Token price is correlated with the top 10 coins by market cap with a price of , excluding Tether (USDT) and correlated with the top 100 coins by market cap excluding all stablecoins with a price of .

Currencies that are positively correlated with Bancor Network Token indicate that the movement of one has a statistically significant weight to lead the other in the same direction. For currencies that are negatively correlated with Bancor Network Token, a move in one direction for Bancor Network Token would translate into a move in the opposite direction for the negatively correlated coin.

To get a better idea of what could happen to the Bancor Network Token price in the future, it’s helpful to also explore Bancor Network Token’s price history. In the last month, the BNT/USD pair is down .

How to read and predict Bancor Network Token price movements?

Bancor Network Token traders use a variety of tools to try and determine the direction in which the BNT market is likely to head next. These tools can roughly be divided into indicators and chart patterns. When trying to predict the Bancor Network Token price, traders also try to identify important support and resistance levels, which can give an indication of when a downtrend is likely to slow down and when an uptrend is likely to stall.

Bancor Network Token Price Prediction Indicators

Moving averages are among the most popular Bancor Network Token price prediction tools. As the name suggests, a moving average provides the average closing price for BNT over a selected time frame, which is divided into a number of periods of the same length. For example, a 12-day simple moving average for BNT is a sum of BNT’s closing prices over the last 12 days which is then divided by 12.

In addition to the simple moving average (SMA), traders also use another type of moving average called the exponential moving average (EMA). The EMA gives more weight to more recent prices, and therefore reacts more quickly to recent price action.

50-day, 100-day and 200-day moving averages are among the most commonly used indicators in the crypto market to identify important resistance and support levels. If the BNT price moves above any of these averages, it is generally seen as a bullish sign for Bancor Network Token. Conversely, a drop below an important moving average is usually a sign of weakness in the BNT market.

Traders also like to use the RSI and Fibonacci retracement level indicators to try and ascertain the future direction of the BNT price.

How to read Bancor Network Token charts and predict price movements?

Most traders use candlestick charts, as they provide more information than a simple line chart. Traders can view candlesticks that represent the price action of Bancor Network Token with different granularity – for example, you could choose a 5-minute candlestick chart for extremely short-term price action or choose a weekly candlestick chart to identify long-terms trends. 1-hour, 4-hour and 1-day candlestick charts are among the most popular.

Let’s use a 1-hour candlestick chart as an example of how this type of price chart gives us information about opening and closing prices. The chart is divided into “candles” that give us information about Bancor Network Token’s price action in 1-hour chunks. Each candlestick will display BNT’s opening price, closing price, as well as the highest and lowest prices that Bancor Network Token reached within the 1-hour period.

It’s also important to pay attention to the color of the candle – a green candle means that the closing price was higher than the opening price, while a red candle tells us the opposite. Some charts will use hollow and filled candlestick bodies instead of colors to represent the same thing.

What affects the price of Bancor Network Token?

Just like with any other asset, the price action of Bancor Network Token is driven by supply and demand. These dynamics can be influenced by fundamental events such as block reward halvings, hard forks or new protocol updates. Regulations, adoption by companies and governments, cryptocurrency exchange hacks, and other real-world events can also affect the price of BNT. The market capitalization of Bancor Network Token can change significantly in a short period of time.

When trying to make a Bancor Network Token forecast, many traders also try to monitor the activity of BNT “whales”, which are entities and individuals that control large amounts of BNT. Since the Bancor Network Token market is relatively small compared to traditional markets, “whales” can single-handedly have a big influence on Bancor Network Token’s price movements.

Bullish and bearish price prediction patterns

Some traders try to identify candlestick patterns when making cryptocurrency price predictions to try and get an edge over the competition. Some candlestick formations are seen as likely to forecast bullish price action, while others are seen as bearish.