Bancor (BNT) is the native token of a decentralized exchange with the same name, capable of allowing automatic exchange in the chain of Ethereum and others.
It consists of a series of intelligent contracts designed to pool liquidity, and perform decentralized exchanges between pairs in a single transaction without the need for a counterparty.
To date, the Bancor has processed more than $2 billion, ensuring that the adoption is on track. It is this that undoubtedly makes it gain ground and generate profits like those we are witnessing today.
Less than a week ago, the exchange launched its version 2.0, promising to improve the experience for both users and liquidity providers, mitigating the problem of „temporary loss“.
With this recent update, the price resumed its upward trend, looking for new annual highs. But will it continue to rise? Find out in the following paragraphs.
Bancor crypt-currency price trend
With a current price of $2.61 per unit, this is equivalent to 41% of the initial price, which makes us quickly identify a negative historical trend.
The historical high for the Bitcoin Rush crypt currency was $10 in early 2018,
The lowest price so far has been $0.1177, reached last March. From that low, the recovery has been really incredible, more than 2300% increase.
Despite the fact that, indeed, the price has been quite compromised over the last few years, with the impressive revaluation we are seeing, the tortilla turned around, and we will see this below.
Bitcoin’s winter crypto is over
Long-term trend of Bancor
With a price still far from the one this cryptomone had for its birth, there is no doubt that the behaviour has not been the best.
However, the rise that began six months ago has shown explosive buying power. Only the bullish candlestick of May involved a fall of 8 continuous months.
As a result, today from the monthly time frame, we observe successive resistance breaks, leading to the 8-month EMA and 18-month SMA moving averages being crossed upwards.
With this, the long-term trend is in a process of upward transition.
A momentum is currently underway, and we may be close to the start of a sharp reversal before this new trend continues. On the monthly chart there is no relevant barrier up to $4.51.
The ABC’s of the Bancor crypto-currency
Medium-term trend of NTBs
In the weekly time frame, history repeats itself. The impressive strength of the bulls maintains a solid upward trend in the medium term.
The 8-week EMA and 18-week SMA moving averages are crossed upwards, supporting this direction, although currently a little off the price after functioning as dynamic supports.
A valid reversal of this strong trend has not yet occurred, but there are also no signs that it may be about to start. From this time frame we see no relevant resistance until the $3.13 level.