- Band Protocol (BAND) value rose 16% to $1.90 as main exchanges together with Binance introduced help for its community improve.
- The rise in cryptocurrency costs, with the value of Bitcoin (BTC) rebounding to $29,000, additionally noticed the value of NEM (XEM) rise 4% to $0.04.
- The value prediction for BAND and XEM is for a continued bullish reversal, though consumers want to carry essential help ranges.
Bitcoin (BTC) rose from key help that held for the previous few days, with the rise to $29,000 offering a contemporary bullish outlook for the cryptocurrency. With the value of BTC rising 6% previously 24 hours and the crypto rebounding as additional issues hit the banking sector, a couple of altcoins look set to take first rate motion.
Band Protocol (BAND) and NEM (XEM) are inexperienced at the moment, however what’s their near-term value outlook?
Band Protocol Value Prediction: Bullish BAND Above Essential Assist Degree
The Band Protocol community improve is approaching April 27, 2023, and the native BAND token is booming. Main exchanges, together with Binance, are able to help the improve, which has the neighborhood excited. However what’s the value outlook for BAND?
BAND/USD just lately broke down from a rising parallel channel on the day by day timeframe to achieve help round $1.65. Immediately’s double-digit positive factors (BAND value is up 16% on the time of writing) have the coin buying and selling above the 50-day and 200-day exponential transferring averages.
Whereas the bullish momentum is more likely to raise the value of the Band Protocol, the important thing resistance zone lies on the psychological stage of $2.0. A bullish efficiency over the subsequent few days could lead on consumers to goal for $2.8.
On the draw back, the lack to consolidate positive factors above the $1.8 stage may go away sellers aiming for $1.33.
Band Protocol Pricing Desk. Supply: TradingView
NEM Value Prediction: Can XEM Break Increased This Time?
The XEM cryptocurrency has largely capped since its descent from the highs of $0.77 reached in March 2021. After correcting to $0.028 in December 2022, XEM/USD turned optimistic to achieve $0.056 in February 2023.
The cryptocurrency retested the $0.028 help stage at the moment, April 26, 2023. However the bulls are preventing to recoup the positive factors amid the crypto’s total rebound.
The coin is at the moment buying and selling close to $0.04, with a rise of round 4% within the final 24 hours. However XEM stays unfavourable over the week and over the previous 30 days, buying and selling down 11% and 5% respectively over these timeframes.
XEM value outlook on the day by day chart. Supply: Buying and selling View
A bearish cross preceded the decline to the multi-month low and consumers must recuperate $0.04 to increase at the moment’s excessive. Moreover, the day by day RSI beneath the 50 line doesn’t counsel a lot pleasure for the bulls and a possible decline to $0.033 after which $0.028 is a extra doubtless near-term situation.