BNTUSDT 3X Risk/Reward Long PositionIn this technical analysis, we have analyzed the BNT/USDT symbol. This digital currency As you can see, the BNT currency has been able to drive itself up in an uptrend channel.
The remarkable point is the middle resistance of this channel, which has created a lot of conflicts each time for the price to pass and has always had a hard resistance to climb.
In this offer, our purchase with 3 exit targets in the form of a step up to the previous price ceiling and the next channel ceiling target in the range of 4.6$ to 4.7$ is considered.
If the trend of a few days by Bitcoin is accompanied by correction or fluctuation, this change can show its impact on our chart with increasing time.
In this case, the channel ceiling will be seen at a farther point than the original state, and this can create a target in the range of 5.3$ for us, which will be considered as the final output target.
DO NOT GET INTO FOMO.
BNTUSDT trade ideas
Bancor (BNT) Trading Setup & MomentumWhat Is Bancor (BNT)?
Bancor consists of a series of smart contracts that manage the on-chain conversion of tokens. The protocol makes it effortless and quick to convert tokens without having to go through an exchange. The protocol's smart contracts manage the liquidity pools that connect various tokens available in the network.
The major token used on the network is the “Bancor Network Token,” BNT. Currently, Bancor and Uniswap are the frontrunners for this new DeFi trend.
Who Are the Founders of Bancor?
Bancor was founded by Eyal Hertzog, Yudi Levi, and Galia and Guy Benartzi in 2017. It was named "Bancor" to honour John Maynard Keynes, who came up with the word 76 years ago to describe a supranational currency.
Eyal Hertzog is the product architect of the protocol, BNT, and other products that utilize the network. He is a known voice in the crypto industry and has been a technology entrepreneur for over 20 years. He previously founded MetaCafe, a top video sharing site in Israel with over 50 million users.
Guy Benartzi is the chief executive at Bancor. He also co-founded Mytopia in 2005, a company that develops cross-platform games for users on social networks.
Galia Benartzi has been a technology entrepreneur for many years, and is a co-founder of the Bancor protocol. At Bancor, she is the business developer. She is also the CEO and founder of Particle Code.
Yudi Levi is the CTO at Bancor. He has been a technology entrepreneur for over 20 years. He previously co-founded AppCoin, an app that allows communities to create their own currencies.
What Makes Bancor Unique?
Bancor enables the seamless conversion of tokens used in the network. This removes the need for an exchange or third-party platforms. The protocol also maintains several self-governing pools for tokens supported by the network.
The uniqueness of Bancor is in their goal to create liquidity for altcoins and to remunerate liquidity providers. The protocol monotonously converts various crypto tokens into other tokens, including those running on other blockchains, without the interference of a third party.
BNT, the protocol’s main token, is the default for all smart tokens created on the network. Bancor’s creation of smart tokens is the first of its kind to be built via blockchain technology. The protocol’s main objective for creating smart tokens is to provide a lasting solution to liquidity problems, hence making it different from other market makers.
Why trade this?
I consider Bancor a top project and there's nothing that can make me change my mind. You can have set up of :
1. Either wait for the breakout of R1 explained in the chart.
2. Trade in the channel and wait for the breakout to happen, and it will, at a point.
Current closed trades (with success!):
February-March:
Chiliz
Digibyte
BAT
SC #1
SC #2
SC|BTC
March-April:
StormX
Perlin
ETC
DOGE
April-May (Open Trades):
OMG
NANO
BNT
For details comment at any time!
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Chartomatic
🆓Bancor/USDT Map (2/5) #BNT $BNTBNT is trying to conquer the 7$ zone and I think it can do it easily. After that BNT will keep moving up to 8.5$ and 10$ in this May.
📈BUY
-Buy: 6.85-7.15$. SL B
📉SELL
-Sell: 8.3-8.7$. SL A
-Sell: 9.75-10.25$. SL A
♻️BACK-UP
-Sell: 6.85-7.15$ if B. SL A
-Buy: 5.85-6.15$. SL B
❓Details
🕯Timeframe : 1 Day
📈Red Arrow : Main Direction as BUY & SELL section
📉Blue Arrow : Back-Up Direction as BACK-UP section
🟩Green zone : Support zone as BUY section
🟥Red zone : Resistance zone as SELL section