Bancor (BNT) Price Prediction 2023-2030: Will BNT Price Hit $1.5 Soon?

• Bullish Bancor (BNT) price prediction ranges from $0.5 to $1.5.
• Analysis suggests that the Bancor price might reach above $1.4040.
• The Bancor bearish market price prediction for 2023 is $0.3393.

What is Bancor (BNT)?

Bancor is an ecosystem of decentralized, open-source DeFi protocols that foster on-chain trading and liquidity. Its main protocol, Carbon is a decentralized protocol for automating on-chain trading strategies. Traders can automate the trading strategies using custom on-chain limit orders and range orders, with the option of combining orders together to create automated buy low, sell high strategies. 

The Carbon orders are irreversible after it has been executed. They can be easily adjusted directly on-chain, and resistant to MEV sandwich attacks. These functions and versatilities give users a better level of control and automation to perform novel trading strategies on-chain.

Arb Fast Lane is a permissionless protocol that enhances the user to perform arbitrage between Bancor ecosystem protocols with external on-chain exchanges. Thereafter, it redirects arbitrage profits to the Bancor ecosystem.

Bancor (BNT) Market Overview

Bancor (BNT) Current Market Status

The maximum supply of Bancor  (BNT) is Unknown, while its circulating supply is 142,942,357 BNT, according to CoinMarketCap. At the time of writing, Bancor is trading at $0.6162 representing 24 hours decrease of 45.2%. The trading volume of Bancor in the past 24 hours is $291,901,908 which represents a 2745% increase.

Some top cryptocurrency exchanges for trading Bancor are Binance, Bithumb, Coinbase and Kraken.  

Now that you know Bancor and its current market status, we shall discuss the price analysis of  Bancor   (BNT) for 2023.

Bancor (BNT) Price Analysis 2023

Will the Bancor blockchain’s most recent improvements, additions, and modifications help its price rise? Moreover, will the changes in the payment and crypto industry affect BNT’s sentiment over time? Read more to find out about Bancor’s 2023 price analysis.

Bancor (BNT)Price Analysis – Bollinger Bands

The Bollinger bands are a type of price envelope developed by John Bollinger. It gives a range with an upper and lower limit for the price to fluctuate. The Bollinger bands work on the principle of standard deviation and period (time).

The upper band as shown in the chart is calculated by adding two times the standard deviation to the Simple Moving Average while the lower band is calculated by subtracting two times the standard deviation from the Simple Moving Average. When the bands widen, it shows there’s going to be more volatility and when they contract, there is less volatility.

When looking at the chart above, we can see that BNT has had a roller coaster-like price movement. At the beginning of 2023, it started to gain value and thereafter, it crashed in mid-March before rising once again. Again in April, it started to lose value until August. In August, there was a spike which was thereafter followed by a period of consolidation. Currently, BNT has gone above the upper band, which makes it extremely overbought. As such, there is a possibility that the price of BNT could fall during the retracement that could happen in the future. 

The above chart shows the uptrends and downtrends for BNT. The green patches show the uptrend while the red patches show the period that BNT lost value. The indicator at the bottom of the chart shows the extent to which BNT fell or gained value. 

Currently, it could be noted that the bands have widened and this could be the beginning of an uptrend. Moreover, the indicator at the bottom of the chart reads a value of 56.5 and the line keeps going in the upward direction. Although, as per the indicator the price of BNT is supposed to increase, however, the Bollinger bands suggest that there might be a retracement or at least a consolidation.

Bancor (BNT)Price Analysis- Relative Strength Index 

The Relative Strength Index is an indicator that is used to measure whether the price of a cryptocurrency is over or undervalued. For this purpose, it has two extreme regions known as the overbought and oversold regions. 

When the RSI reads a value (>70) then the crypto is overbought, which means that due to more buying the demand has increased as such the price has also increased. On the other hand, when it is oversold, many are selling, as such, its price is undervalued.

The price of BNT is currently on the rise after its consolidation. The RSI value of BNT is 81.83. Since the RSI value is in the overbought region, there is a high chance that it could return to the normal area. However, if the bulls keep entering the market, the RSI could keep rising.  

Moreover, the RSI could also be used to detect divergence in prices. For instance, when the BNT is making higher highs, the RSI is also bound to make higher highs. However, if the RSI makes lower highs, it is a bearish divergence.   

Bancor (BNT) Price Analysis- Accumulation and Distribution Line 

The Accumulation and Distribution Line (ADL) is an indicator that relies upon the price and the volume of the cryptocurrency to find out how strong the current trend is. Generally, if there is a price rise then the ADL should also rise along with the price. 

When the preceding happens, there is assurance that the price rise is supported by volume. However, when the ADL falls while the price rises, then, it shows that the price change is not supported by volume and the trend is weak.

The above chart shows that the ADL line reads a value of -75M and the line seems to be heading in the downward direction. This shows that the price increase has not been supported by volume. Moreover, the balance of power indicator at the bottom of the chart shows that the bearish ADL is 0.9223 while the bullish ADL is 0.6234. Hence, as of press time, the bears seem to be having the upper hand in the market.  

Bancor (BNT) Price Prediction 2023-2030 Overview

Bancor (BNT)Price Prediction 2023

The above chart shows that since BNT fell in July 2022, it has been struggling and moving laterally. It has been fluctuating between $0.3 and $0.7 for more than a year. BNT tested the $0.6 resistance level in August 2023. However, it was rejected and started retracing. Currently, BNT seems to be retracing after being rejected at the $0.67 resistance level.  

There is a high chance that BNT could reach out for support at the $0.457 level. However, if this level is not capable of holding the falling prices of BNT, then it may fall to $0.334 for support. Having stated the above one should note that there is more buying pressure near the $0.45 level. 

Moreover, the point of control (PoC) where most selling and buying happens is around the $0.5 area while the high price that more trading has happened is near $0.614. The lowest price that there was most BNT were bought and sold was $0.45. Interestingly, there seems to be a developing Point of Control near the area where Bancor is currently. If this developing PoC matures and more investors enter the market, then BNT has the potential to reach $1.43. 

Bancor (BNT)Price Prediction – Resistance and Support Levels

BNT took a huge fall back in June 2022. After the fall, BNT started to recover and rise along the 1:2 Gann line and reached above the $0.57 level. Just after reaching this level, BNT crashed again and was supported near the $0.45 at first, and thereafter near the $0.42 level. In early November, BNT had a small spike, before it descended along the 1:1 Gann line and reached below $0.33.    

Come 2023, the bulls brought some new hope for Bancor. The token rose from $0.32 to $0.64 within the span of four months. Once again in April 2023, BNT crashed and reached the 0.33 level for support. Recently, in August BNT rose again and tested the $0.64 level before crashing again. Currently, after receiving support from the $0.4 level, BNT is testing the $0.6 level. There is a possibility that BNT could rise and test the 3:1 Gann line. 

Bancor (BNT) Price Prediction 2024 

There will be Bitcoin halving in 2024. Hence, we should expect a positive trend in the market due to user sentiments and the quest by investors to accumulate more of the coin. However, the year of BTC halving didn’t yield the maximum for Bancor based on the previous halving. Hence, we could expect Bancor (BNT) to trade at a price, not below $2.75 by the end of 2024.

Bancor (BNT) Price Prediction 2025

Bancor may experience the after-effects of the Bitcoin halving and is expected to trade much higher than its 2024 price. Many trade analysts speculate that BTC halving could create a huge impact on the crypto market. Moreover, similar to many altcoins, Bancor will continue to rise in 2025 forming new resistance levels. It is expected that Bancor (BNT) will trade beyond the $11.20 level.

Bancor (BNT) Price Prediction 2026

It is expected that after a long period of bull run, the bears will come into power and start negatively impacting the cryptocurrencies. During this bearish sentiment, Bancor could tumble into its support regions. During this period of price correction, Bancor could lose momentum and be way below its 2025 price. As such, it could be trading at $5.68 by 2026. 

Bancor (BNT) Price Prediction 2027

Naturally, traders expect a bullish market sentiment after the crypto industry was affected negatively by the bears’ claw. Moreover, the build-up to the next Bitcoin halving in 2028 could evoke excitement in traders. However, there’ll be a dip in price before the excitement will be reciprocated in BNT. As such, we could expect Bancor (BNT) to trade at around $7.5 by the end of 2027. 

Bancor (BNT) Price Prediction 2028

As the crypto community’s hope will be re-ignited looking forward to Bitcoin halving like many altcoins, Bancor may reciprocate its past behavior during the BTC halving. Hence, Bancor  (BNT) would be trading at $10.45 after experiencing a considerable surge by the end of 2028.

Bancor (BNT) Price Prediction 2029

2029 is expected to be another bull run due to the aftermath of the BTC halving. However, traders speculate that the crypto market will gradually become stable by this year. In tandem with the stable market sentiment, Bancor (BNT) could be trading at $19.5 by the end of 2029.

Bancor (BNT) Price Prediction 2030

After witnessing a bullish run in the market, Bancor and many altcoins would show signs of consolidation and might trade sideways and move downwards for some time while experiencing minor spikes. Therefore, by the end of 2030, Bancor (BNT) could be trading at $17.78.

Bancor (BNT) Price Prediction 2040

The long-term forecast for Bancor indicates that this altcoin could reach a new all-time high(ATH). This would be one of the key moments as HODLERS may expect to sell some of their Coins at the ATH point. 

If they start selling then Bancor could fall in value. It is expected that the average price of Bancor (BNT) could reach $41.55 by 2040.

Bancor (BNT) Price Prediction 2050

Since Cryptocurrency will be revered and widely accepted by most people during the 2050s, we will see the masses believe more in it. As such Bancor (BNT) could reach $64.80.

Conclusion

If investors continue showing their interest in Bancor and add these Coins to their portfolio, it could continue to rise. BNT’s bullish price prediction shows that it could reach the $1.40 level

FAQ

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.