The other day I published that Band was breaking out of its .236 fibonnaci retrace and would be on track to hit $10 before it encountered resistance and - this week Band did that almost perfectly!
Band breached 10 and bounced off of the .50 percent fibonnaci retrace this week almost perfectly. Now I would say its a little to soon to say if band will continue to break its all time high now, or if it will consolidate over the next few weeks before continuing up, but I also wanted to give some long term projections:
There you will see a comparison I made between Band and Chainlink. They are both oracles, but clearly Chainlink Obviously has a much higher market cap - for now. We must also keep in mind that Chainlink beat BAND to the market by 1 year and if you compare Band to Chainlink its eerily similar.
When Band Protocol it went main-net last summer it exploded (just like chainlink did when it had its Mainnet launch in 2019.) A few months after Chainlink had its Mainet launch, it dipped down to the exact level band protocol is at, followed by an explosion to $4.4 which is equivalent to 25ish/27ish in band protocol terms. Story goes on, 1 year from it's mainnet: chainlink hit all new highs at $18 ( which in band protocol terms would correspond to the $40-$50 range.)
I would venture to say that if the band protocol development team does not slack off, band token can reach a similar level of performance. We need to make sure that validation request keep rising, validators keep rising, and new partners get onboarded because that will be a good indicator of network growth. Keep in mind Band protocol will hit its one year anniversary this summer, we must monitor its development closely because if it performs similarly we will all be Rich as F^Ck!
Band breached 10 and bounced off of the .50 percent fibonnaci retrace this week almost perfectly. Now I would say its a little to soon to say if band will continue to break its all time high now, or if it will consolidate over the next few weeks before continuing up, but I also wanted to give some long term projections:
There you will see a comparison I made between Band and Chainlink. They are both oracles, but clearly Chainlink Obviously has a much higher market cap - for now. We must also keep in mind that Chainlink beat BAND to the market by 1 year and if you compare Band to Chainlink its eerily similar.
When Band Protocol it went main-net last summer it exploded (just like chainlink did when it had its Mainnet launch in 2019.) A few months after Chainlink had its Mainet launch, it dipped down to the exact level band protocol is at, followed by an explosion to $4.4 which is equivalent to 25ish/27ish in band protocol terms. Story goes on, 1 year from it's mainnet: chainlink hit all new highs at $18 ( which in band protocol terms would correspond to the $40-$50 range.)
I would venture to say that if the band protocol development team does not slack off, band token can reach a similar level of performance. We need to make sure that validation request keep rising, validators keep rising, and new partners get onboarded because that will be a good indicator of network growth. Keep in mind Band protocol will hit its one year anniversary this summer, we must monitor its development closely because if it performs similarly we will all be Rich as F^Ck!
Comment:
That's the link to my comparative analysis. I realize that it did not attach to my doc properly.
Comment:
Chainlink had its mainet launch exactly 1 year before band protocol. It's valued skyrocketed and dipped down after its launch - which is exactly what band did after its had its main net launch in 2020. If band dips up in a similar fashion the equivalent of chain hitting $4.4 would be 27-25 USD in band terms.... 1 year after chainlink went main net it went to $18 which is the equivalent of 40-50 dollars in band protocol terms. as you can see bands current cycle is eerily similar to how chainlink performed in its development cycle.
Comment:
Band Protocol will hit its 1 year anniversary this summer. If all things stay the same... its going to moon shot by alot in the next few months
