BAND is testing a long-standing downtrend line that has capped price action since November 2024.
A daily close above $0.6944 may confirm breakout conditions and open room for a move toward $1.20.
$0.6599 remains the critical support level; holding above it is key to maintaining upward momentum.
BANDUSDT is currently positioned at a critical technical level on the daily chart. Price action has pressed against a descending trendline that has capped upside moves since November 2024. This line has served as a consistent resistance barrier across multiple failed attempts in the past months.
As of the latest data available, BAND is trading at $0.6818, with a slight 0.5% increase over the last 24 hours. Price action has set higher lows leading up to the current trendline retest. However, ongoing confirmation above resistance at $0.6944 is still necessary before more upside becomes feasible.
$0.6944 Resistance Under Watch as Bulls Attempt Breakout
The resistance zone at $0.6944 has emerged as the immediate barrier ahead of any trend reversal. BAND’s previous rally attempts were rejected near similar levels. Interestingly, should bulls be able to close the daily candle above this line with volume confirmation, the trendline breakout movement could become noteworthy.
Support is at 0.6599 as this level has been tested several times within the recent consolidation phase. Prices staying above this level may continue to attract momentum. However, if it fails, the bearish structure could remain intact for the short term.
BAND Targets $1.20 as Price Approaches Breakout Confirmation Zone
The measured move from the current breakout structure projects a potential upside target near $1.20. This represents a gain of approximately 76.14% from the breakout point near $0.6818. Technical projections show the range beginning around $0.72 and extending into the $1.20 level, reflecting a substantial price zone shift if validated.
https://twitter.com/ZAYKCharts/status/1943918412918665273
The breakout range is visually represented on the daily chart, supported by a green price zone. Price acceptance above this zone could lead to increased volatility, with traders closely monitoring volume and momentum confirmation for validation. BANDUSDT is at a critical point because it is examining multi-month resistance. Volume-confirmed rising through resistance at $0.6944, though, would confirm the bullish structure and present the possibility of an advance to the target zone of approximately $1.20.
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