Bancor (BNT) price rocketed over 28% in 24 hours as traders prepared for the listing of the token on major crypto exchange Coinbase
Bancor token is among the three newly listed tokens on cryptocurrency trading platform Coinbase Pro that have seen their respective prices post massive gains in the past 24 hours.
The price of Bancor against the US dollar has spiked more than 28% to hit highs of $1.41. At the time of writing, the cryptocurrency is trading around $1.33 and looks poised to retest the intraday highs as bulls target another upside that would bring $2.0 into play.
The other two tokens to see an uptick in prices after Coinbase announced trading support are Aave (AAVE) and Synthetix (SYN). AAVE is up 6.7% to currently trade around $87.17, while SYN/USD is changing hands around $5.25 after surging nearly 11%.
BNT/USD price
Data from IntoTheBlock’s In/Out of the Money Around Price shows bulls face a relatively easy path on the upside. As per the chart below, the BNT price at the current level of $1.33 faces no major resistance until around $1.66. If bulls surmount the expected rejection at the level, the next target will be $2.
Should the short term bullish momentum fade off, BNT price will likely decline to lows of $1.15. This is a major support level with over 1,250 addresses shown to have purchased more than 30 million worth of BNT tokens.
On the daily chart, the RSI is ticking upwards into the overbought region. Meanwhile, the MACD presents a bullish divergence to suggest bulls are strengthening. The immediate resistance line lies at $1.40, above
