Banana ($BANANA /USDT) Daily Chart Analysis – 🍌📈 Bullish Recovery?

Current Price: $20.23 (+5.20%)

Daily Range: High: $21.15 – Low: $18.79

🔹 Key Technical Insights:
Trend & Price Action:

After a prolonged downtrend, BANANA is showing signs of a potential recovery.
The price is currently testing the $20-$21 resistance zone, which must be broken to confirm an uptrend.
Bollinger Bands indicate price compression, suggesting a potential volatility breakout soon.

Moving Averages (MA):

✅ Bullish: SMA 5, SMA 10, SMA 20 → Short-term momentum is turning positive.

⚠️ Bearish: SMA 50 → Long-term trend still bearish, needs further confirmation.

Momentum Indicators:

RSI (D: 68.82, 15: 59.3, 60: 68.78, 240: 86.84) → Nearing overbought territory but still bullish.
Stochastic RSI → Bullish crossover, signaling upside potential.
MACD → Bearish crossover, indicating possible short-term weakness.
ADX → Bullish crossover, suggesting a strengthening trend.
MFI (Money Flow Index) → Bullish range, meaning buying pressure is increasing.
VWAP (Volume Weighted Average Price) → Uptrend, confirming short-term bullish momentum.

🚀 Resistance & Support Levels:

📈 Key Resistance: $21.50, $25.00, $30.00

📉 Key Support: $19.00, $18.00, $16.50

⚠️ Outlook & Trading Plan:

✅ Bullish Scenario: If BANANA breaks above $21.50, it could rally toward $25-$30.

⚠️ Bearish Risk: If price fails to sustain above $19.00, a retest of $18-$16.50 is possible.

📢 Conclusion:

BANANA is showing early signs of recovery, but it needs to confirm a breakout above $21.50 for a strong bullish continuation. If the price holds above $19.00, the bullish case remains valid.