Bancor Rally Could Have StartedBancor continues to reject the long-term uptrend trendline, with the most recent bounce occurred in April, when it found the bottom at $2. Since then price went up by nearly 200% and found the top at $6 area.
The correction down followed and BNT/USD found the support at 78.6% Fibs, that is $3.5 level, which previously acted as the support as well as resistance. While the support is holding, Bancor is likely to continue trending upwards with the final target at 327.2% Fibs, applied to the recent corrective wave down. This is $12 area, that corresponds to the upper trendline of the ascending channel.
At this stage consolidation between $4.5 and $3.5 is possible and could take few weeks before Bancor will start moving higher. But only daily break and close below $3.4 could invalidate bullish outlook.
BNTUSD trade ideas
The Magic BNT Bancor USD TriangleI call this one the "Magic Triangle". Broke out recently. Huge gains potential short/long term. Very good hold. DYOR.
Bancor the beginning of a new market marketcycle After a 70% percent correction Bancor has reached it's bottom.
The MACD will crossover the coming days wich means people are going to buy !
this will mean Bancor will test the yellow trendline, if Bancor can't break it , it will follow the red Elliot waves or consolidate. But if it does break the yellow trend line and there is a volume confirmation it will be a HUGE breakout.
Bancor Has 150% Short Term Potential Bancor producing higher highs and higher lows thus, confirming the validity of the uptrend. All markets move in waves and Bancor is no exception. After reaching $10.8 all-time high price corrected won to $5 support level, where it was stopped by the 61.8% Fibonacci retracement levels.
At the same price, the uptrend trendline and the 200 Moving Average were rejected and price spiked up to $9.5. Now BNT/USD might continue range for a little while, but the uptrend is there and it is valid. It is a matter of time when Bancor will go higher and as the upside targets, the $15 resistance area could play a key role in the medium term. Only a break and close below the $2.8 support could invalidate bullish outlook.
BNTUSDIt looks like trend start earlier but ichimoku is showing us new buy zone as we can see price is at top and Tenkansen looks, it will be support, let's see
What is this Crypto with a minimum 100% upside? This is a perfect breakout on the daily. It's a buy now.
I think the breakout of this coin is either a positive for Ethereum, or Ethereum's recent run is a positive for Bancor. The current market cap is $150 million. In my opinion, Bancor could be trading at ~$20 per coin in the future.
Why? Bancor is a Decentralized Liquidity Network that allows you to hold any Ethereum token and convert it to any other token in the network, with no counter-party, at an automatically calculated price, using a web wallet.
bancor got accumulated for long enoughI think next leg up is near. when this triangle is over, we are off to go.
Long Bancor - "The beatings will continue until morale improves"Bancor angered a lot of fans and had a very greedy crowdsale process which really exemplified crowdsale madness, with its $150 million raise, which coincided right at the ETHUSD top in June. Since then it's been a dog and anyone who got in has likely had buyers remorse.
But it looks like 'morale' is about to improve in a huge way here with Bancor, starting with Bancor Foundation Council member, Eyal Hertzog, doing a TechCrunch Disrupt "ICO" panel tomorrow morning with Dan Morehead (Pantera Capital) and Jun Hasegawa (OmiseGO).
Source: techcrunch.com
And following that, Eyal will supposedly do a CNBC interview.
Source: www.reddit.com "Marketing/Communication Guy: "@Hertzog is about to do a panel on ICOs at Techcrunch, followed by an interview with CNBC. I will ask him when he's done if he can get more info."
Additionally, the projects using Bancor Protocol have been stacking up: www.reddit.com
Lastly, a sub-$100 million valuation (coinmarketcap.com) pretty much makes the fundamentals ripe for a massively oversold reversal upwards.
But lastly lastly, chart-wise, BNTUSD looks to have just bottomed a wave 2 with a massive wave 3 rally next up.
Overall, IMO it looks like morale is about to hugely improve with Bancor.
Disclaimer: I am long BNT as of today, 9/17.
