Your detailed analysis and commentary for BAND is quite comprehensive! Here are some important points
1. Trends and Breakdowns
- The all-time downward trend was broken in volume on October 14, 2023, and this break occurred at $ 1.19 levels.
- However, a stable rising trend has been observed for 5 months since this breakout. This is one of the elements that makes BAND attractive.
- In other words, there has been no deterioration in the rising trend structure over the last 5 months, and the price has not made a high enough premium compared to the rest of the market.
2. Price Targets
- BAND has a 58% increase potential from $ 2.27 to $ 3,560 under current conditions.
- Resistance at $3,560 is a bit strong, but a single candle close above it on the daily could lead to a 5x rise to $11,310.
- Positive news from the fundamental side may also support this rise.
3. Risks and Support Levels
- If we look at the negative scenarios, the trend support level is located around $1,970, which means a difference of approximately 10%.
- Retreats that may occur up to trend support are not a cause for concern.
- If it falls below this level, $1.678 is seen as a region where it can get a quick reaction.
4. Strategies
- Considering the market conditions, you may consider entering BAND with a maximum of 5% of your portfolio instead of placing a stop-loss.
- Alternatively, you can aim for a 400% increase by entering directly with a staked amount.