Does the banana strictly adhere to the potential head and shoulder pattern? OR IS THERE OTHER POSSIBLE PRICE ACTIONS?
For a long time, BANANA has maintained its position above the crucial levels of 29.63–37.14, which is also the price range in which it has made its higher highs and higher lows. What might be the next move in banana prices?
Today, we will talk about that.
This coin had a low point in 2023, when many were terrified, BANANA has had a sharp increase both before and after joining Binance's Futures. Instead of panic selling, the whales' entry into the market due to fear is what is driving its price increase. Many people still don't know how to enter the market at its most tense times and would prefer to do it during its most exciting periods. Everyone would therefore find it more difficult to predict a price spike for the majority of tokens. This is common as the cryptocurrency market is largely unpredictable, but if you grasp the idea of greed and fear, it gets easier to comprehend the market's nature. At the moment, BANANA is severely impacted by every market movement that Bitcoin experiences, which quickly turns market sentiment from greed to dread. We refer to these as long-term corrections that are required for its possible growth for long-term prospects, even though they are temporary and what most would call corrections with the potential for short-term loss.
What are the current testing goals for the major levels?
According to this perspective, the price range of 16.46 to 36.84 is emerging as the critical level where its new significant supports are most likely to be found. This token has a total quantity of 7 million in circulation. It tends to keep finding higher pricing for its new ATH in the near future. Starting this year, we'll keep an eye on where this token will end and raise unreasonable demands, which will lead to another markup. The accumulation to markup curve that BANANA is based on is followed in this research, albeit different outcomes could happen. As a result, it's critical to remember that additional market variables could influence this token's potential future upward movement.
These posts are for educational purposes. To guide the people who might still be struggling within the crypto market, those who are new to the environment and volatility and everyone else who needs it.
Stay wise, trade cautiously.