BANANAUSDT trade ideas
$Banana/Usdt Prediction! Dear Traders,
In the recent past, Banana coin has demonstrated a bullish trend and achieved substantial progress. At present, we find ourselves at a critical juncture. For a bullish price forecast, Banana coin may oscillate within the $53 to $65 range for a period or potentially surge directly to the $80 mark upon surpassing the minor resistance at $65. In the most optimistic scenario, we could witness a rapid ascent towards the $120 zone. Conversely, a pullback to the mid to low $40s is possible, followed by a subsequent rise. However, this outcome appears highly improbable given the exceptionally high daily volume.
BANANA/USDT LONGBANANA/USDT squeeze is available. There is a possibility that it will make an upward move.
It is not investment advice.
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#BANANA/USDT breaks the Diagonal Trendline in 4-Hour TF!#BANANA/USDT breaks the Diagonal Trendline in 4-Hour TF!
$BANANA retests the trendline and looks bullish if CRYPTOCAP:BTC gives some room. The local support level is PWH $40.56.
BANANA Update — Not Ready For An Entry Yet!Banana has been hit hard lately and lost almost 70% from the latest high to low. On its way down, it crushed through every support level before bottoming slightly below $30.
From there, Banana already recovered more than 30%. However, if you haven't jumped in at the bottom, it is probably better to wait for a safe entry.
Although historical data is limited, it shows that the area between 39 and 42 has been used for consolidation before moving higher or lower.
Therefore, regarding a long entry, I would wait for a close and confirmation above the $42 level. If this happens, and the overall market stays bullish, we might see a run back toward 58 as the next bigger resistance.
Banana Gun — More Downside Potential?I felt some excitement when Banana's support level at $58 was held twice, and the token bounced nicely. As mentioned in other posts, I've been waiting for a clear break of the next resistance at 65 to elaborate an entry.
Unfortunately, the second bounce from the support level already delivered a lower high. Therefore, the chances of going lower increased.
And that's exactly what happened. At the third test, the support level broke, and Banana dropped to the next support level at $52. However, so far, there have been no clear reversal signs. On the contrary, a drop to lower levels (45) is even more likely.
Regarding a trade setup, I definitely removed the token from the monitoring list. The bears are absolutely in control right now, and I would be surprised if we had already reached the bottom.
BANANA — Support Held, Breaking Out Of The Downtrend & GettingAs mentioned yesterday, BANANA performed relatively strongly compared to many other tokens. Most importantly, the token stayed above the important support area at 58 USD.
Moreover, BANANA broke out of its (short-term) downtrend this morning and is currently confirming the outbreak. If this happens, we can add a checkmark to the first requirements for an entry.
As a second step before a long entry, BANANA has to jump above the 65 level and confirm it at least on the 4H chart.
If this happens, we can take a closer look and evaluate a long entry.
Banana Gun (BANANA) — This One Is Getting InterestingSo far, BANANA has performed almost exactly as we predicted two days ago. As expected, the token bounced off the ~55 area. Moreover, it initiated a nice recovery back to the level of $65.
At this point, BANANA faces a horizontal and (short-term) downtrend resistance. Unsurprisingly, the first attempt to jump above 65 was rejected.
Nevertheless, the volume has been strong during the recovery, showing that buyers want to push BANANA higher.
Currently, I would wait for a break of $65 level and confirmation on the daily timeframe. If this happens, a long trade could become interesting.
Overall, the price action looks like profit-taking after the latest listing. However, since the long-term uptrend didn't break, we can assume ongoing positive momentum.
Banana Gun — Levels You Have To Watch!Banana has encountered a considerable price drop after its massive pump due to the recent listings. Here's an analysis of the levels you should watch now and predictions about the next moves!
1️⃣ One week ago, Banana flashed a golden cross (green crosses above the red line). This is an important bullish signal and (obviously) resulted in a major price pump. However, Banana has managed to keep this momentum so far.
2️⃣ Banana's price trades well above the Ichimoku cloud, further indicating a bullish trend and seconding the above golden cross.
3️⃣ Due to profit takings, Banana experienced a sharp drop after reaching its top. However, the lower boundary of the future cloud ($60) is a strong support. At the same time, the upper boundary ($65) reflects a resistance zone.
➡️ What's next?
If Banana breaks below the 60-level, we could see a stronger drop toward the upper cloud level, located at ~50 USD.
On the other hand, if Banana can move above 65 USD and flip this level into support, we are all set for a bullish continuation. The first target, in this case, is 72 USD.
BITGET:BANANAUSDT
Banana Gun (BANANA) — What's Next After Its Binance Listing?Banana is one of these tokens that has delivered exceptional performance since its start. Compared to its price at the end of last year, Banana's price has pumped up to 1,500%.
Of course, the latest price push was related to the Binance listing.
Subsequently, the current correction is based on investors and traders taking profits.
However, long-term, I expect more upside potential. The ongoing correction should find a bottom between $50 and $55 and bounce from there. Moreover, there's plenty of room to grow based on the current market cap of 200m.
Nevertheless, from a trading point of view, I haven't touched the token yet. This has nothing to do with the fundamentals but with too little data to "securely" predict the next moves and support and resistance zones.
Bullish outlook for BANANA/USDT 1-Hour ChartThe red highlighted area around 55.8338 marks a strong support zone where the price has previously found buyers.
This level has been tested multiple times, indicating its importance.
The horizontal red line at 87.2391 indicates a major resistance level.
This level has been identified as a potential target for the upward movement.
There was a significant spike in price, breaking out above the support zone and moving towards higher levels.
The price is currently consolidating after the breakout, indicating a potential continuation of the upward move.
Ensure proper position sizing to avoid overexposure to market volatility.
