Banana Gun (BANANA) Price Prediction: Don\'t Expect Rally To Continue

The price of Banana Gun (BANANA) has increased by more than 50% in the last 24 hours, securing the token a place among the top performing assets of the week. Let’s figure out what’s behind the growth and what to expect from BANANA in the coming days.

Banana Gun (BANANA) price has soared more than 50% in 24 hours, making it one of the best performing crypto assets this week. So, what’s driving this growth, and what can we expect from BANANA in the coming days?

Binance’s recent listing of the Telegram bot token, Banana Gun (BANANA), has sparked a surge in interest in the cryptocurrency. The world’s largest crypto exchange also announced an Airdrop on the Binance Launchpad, further boosting interest in the token.

Now, let’s quickly assess BANANA’s technicals. The recent price surge has pushed the RSI index into the overbought zone, and we can also see that the momentum has started to fade during the day. This could indicate a potential correction in the short term.

Moreover, the Chaikin Money Flow (CMF) indicator shows that the asset has not seen any significant inflows of funds. This indicates a lack of buying interest and potential selling pressure. All of this suggests that the price increase was largely driven by speculation and hype, making the rally unsustainable.

Yesterday, the price of BANANA reached an all-time high of $87.03, but after that, the token rate corrected to $70.06, closing the day with a 30% drop. Now $70.61 acts as a critical resistance.

If inflows continue to decline, BANANA will likely fall to $65.00 or lower. However, if there’s a new wave of interest, the barrier of $70.61 may be overcome. In this case, the price of the altcoin will rise to $75. But even in this case, it’s too early to talk about reaching a new historical maximum.

About Banana Gun

Banana Gun is a Telegram bot that provides trading tools for on-chain tokens. It was introduced on June 2, 2023, and offers two core services: trading and sniping. Trading allows users to purchase tokens already active on the Ethereum network in a secure manner. Sniping, on the other hand, enables users to acquire tokens before others during upcoming token launches.

Banana Gun currently supports only Ethereum, but it plans to expand its services to other blockchain networks in the future. Its primary functionalities include protecting users from rug pulls and malicious smart contracts, and helping them optimize their earnings while minimizing their risks.

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