Band Protocol $BAND is currently exhibiting a promising technical setup on the weekly chart, suggesting a potential significant upward movement following a brief retracement.

Technical Analysis:
• Wedge Pattern Breakout: BAND has recently closed above a descending wedge pattern on the weekly timeframe, a bullish indicator that often precedes substantial price increases.
• Retest of Breakout Level: The current retracement appears to be a retest of the previous resistance level, now acting as support. This retest is a common technical behavior before a continuation of the upward trend.

Market Context:
• Broader Crypto Market: The overall cryptocurrency market sentiment and Bitcoin’s performance can significantly influence BAND’s price action. Positive movements in major cryptocurrencies often lead to increased interest and investment in altcoins like BAND.
• Community and Developments: Engagement within the crypto community and any upcoming developments or partnerships related to Band Protocol can also impact its market performance.

Considerations:
• Market Volatility: Cryptocurrency markets are known for their volatility. While technical indicators suggest a bullish scenario, unexpected market movements can occur.
• Risk Management: It’s essential to implement proper risk management strategies, such as setting stop-loss orders and not investing more than one can afford to lose.

In conclusion, BAND’s technical setup indicates a potential significant upward movement following the current retracement. Traders and investors should monitor the price action closely, especially the retest of the breakout level, and consider broader market conditions when making decisions.
#BAND #altsesaon #bullish

Cardano: only 30% of ADA holders have turned a profit - what's next?

There is a bearish bias in #ADA prices, consistently falling highs and multiple double top formations.
Narrow Bollinger Bands and a flat MACD indicate low volatility.
Despite the weak performance over the past month, #Cardano [ADA] is showing signs of strong support as evidenced by the network data.
Moreover, the network has seen a rise in the total blockchain value (TVL) in the #ЛюбимыйТокен app, which has doubled from its peak during the 2021 bull market.
According to IntoTheBlock, only 30% of ADA holders are currently profitable, meaning that a significant portion of the market is losing money.
28% of ADA is owned by large investors, indicating a moderately high level of tracking of this token, which could affect price stability and potential risk of manipulation.
The massive $34.46 billion in transactions over the past week indicates large movements by institutional or large investors, which can be both inflows and outflows, reflecting active participation in high-stakes bidding in ADA.
At the time of publication, ADA prices were in a downtrend, which has been particularly noticeable against a backdrop of sustained low prices since early June. This trend is consistent with bearish sentiment.
The Bollinger Bands on this chart are relatively narrow, which often indicates low volatility.
ADA prices are fluctuating around the middle #band , indicating that there is no full-fledged bullish or bearish momentum, which is consistent with a consolidation phase.
The moving average divergence indicator (MACD) is zero, reinforcing the sentiment in the bands.
A series of double tops have formed on the chart below, which are generally considered bearish reversal indicators.
In addition, ADA prices are below all moving average lines, which is considered a bearish signal.

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#DigitalCurrency

$BAND

BAND Update ~ 1W

#BAND If you still have Conviction on this coin. buy in stages from here. with a minimum target of 20%++, it is only a matter of time until this resistance line is successfully penetrated.
#BAND/USDT⚡️⚡️ #BTCNewATH #Write2Earn! #MarketNewHype