BANANA coin faced its first significant losses, dropping by 21%, creating a potential accumulation opportunity.
Points
- BANANA coin drops by 21%
- Realized losses worth close to $1 million
- MVRV ratio at -15%, signaling buying pressure
- Potential bounce back from support level
Telegram Coin BANANA has experienced its first major losses, with the price dropping by 21%. This decline has placed BANANA in a potentially lucrative position for accumulation. Investors noted realized losses close to $1 million over the past week, with the 30-day MVRV ratio standing at -15%. Historically, an MVRV between -7% and -17% indicates the start of rallies, marking this as an accumulation zone.
Currently, BANANA is testing the support level around $56. If accumulation begins soon, the price could rebound to the psychological resistance of $65. However, losing the $56 support could lead to a further drop to $47, invalidating the bullish thesis.
解説
- The significant price drop presents an opportunity for new investors to accumulate BANANA at lower prices.
- The MVRV ratio suggests that the market may soon see a reversal, with buying pressure increasing.
- Monitoring support and resistance levels is crucial for predicting potential price movements.