Bella Protocol Price Prediction 2021 – Will BEL Hit $8 Soon?
- Bullish Bella Protocol price prediction ranges from $1.74 to $5.92.
- Bella Protocol prices might also reach $8 soon.
- BEL bearish market price prediction for 2021 is $0.89.
In Bella Protocol (BEL) price prediction 2021, we use statistics, price patterns, RSI, and much other information about BEL to analyze the future movement of the cryptocurrency.
Bella Protocol is a platform that offers a suite of DeFi products developed to make crypto banking simpler and more accessible. Moreover, the protocol focuses on creating a better user experience by eliminating the high fee and slow transaction problems that can affect some blockchain platforms. However, simultaneously improving the user experience via its simplified DeFi smart portal.
Let us see about the Bella Protocol price prediction 2021.
Current Market Status of Bella Protocol (BEL)
According to CoinGecko, the Bella Protocol price is trading at $2.57 with a 24-hour trading volume of $16,383,557, at the time of writing. However, Bella Protocol has increased by 2.9% in the last 24 hours.
Currently, Bella Protocol trades in cryptocurrency exchanges such as Binance, Bilaxy, and many more.
Bella Protocol (BEL) Price Prediction 2021
Bella Protocol (BEL) holds the 363rd position on CoinGecko right now. Bella Protocol price prediction 2021 explained below with a daily time frame.
The chart above indicates the symmetrical triangle pattern of BEL. A symmetrical triangle pattern is formed by falling an upper trendline and a rising lower trendline. More so, as the price approaches the apex, it will violate the upper trendline which results in a breakout.
The symmetrical triangle varies from the other triangle patterns in that it is a neutral pattern that does not lean in any direction. While the triangle itself is neutral, it might favor the existing trend’s direction, and traders look for breakouts in that direction.
Currently, BEL is trading at $2.57. After this, BEL may continue to fall or rise according to the direction of breakout. With this pattern, BEL might reach the resistance level at $5.8 soon, if the trend breaks out at $3.03. If the trend reverses, then the price of BEL may fall to $0.82.
Bella Protocol (BEL) Support and Resistance Level
The below chart shows the support and resistance level of Bella Protocol (BEL).
From the above chart, it is considered that the following are the resistance and support levels of Bella Protocol (BEL).
- Resistance Level 1 – $1.74
- Resistance Level 2 – $3.68
- Next resistance level – $5.92
- Support Level 1 – $1.74
- Support Level 2 – $0.89
- Next support level – $0.57
The chart depicts the bullish performance of Bella Protocol over the previous month. However, this trend will continue to reach a resistance level at $5.92 soon. Even more, if the trend reversed then Bella Protocol might fall to $0.89 presenting a bearish signal.
Bella Protocol (BEL) Average Directional Index (ADX)
Let us now look at Reserve Rights’s Average Directional Index (ADX). In particular, the ADX assists traders in determining the strength of a trend rather than its direction. It can also be used to determine whether the market is changing or if a new trend is beginning. It is, however, linked to the Directional Movement Index (DMI).
Moreover, the oscillator has a range of 0 to 100. In addition, a high value represents a strong trend, while a low value represents a weak trend. Furthermore, it is frequently combined with directional indicators.
The above chart represents the ADX of Bella Protocol. Currently, Bella Protocol lies in the range at 50.88, so it indicates a strong trend. This shows that the price of ADX can go bullish in the future.
Conclusion
Bella Protocol is one of the cryptos which is great for long-term investment. In addition, Bella Protocol price prediction is bullish for a short-term. It has a good chance of reaching $3.68 within the end of this year. However, this will only happen if many previous psychological barriers are broken.
Furthermore, with the advancements and upgrades on the Bella Protocol ecosystem, the performance of Bella Protocol would rise reaching $5.92 very soon. But, it might also reach $8 if the investors believe that Bella Protocol is a good investment in 2021.
Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
The post has appeared first on thenewscrypto.com
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
