Banana Gun (BANANA) — This One Is Getting Interesting

So far, BANANA has performed almost exactly as we predicted two days ago. As expected, the token bounced off the ~55 area. Moreover, it initiated a nice recovery back to the level of $65.

At this point, BANANA faces a horizontal and (short-term) downtrend resistance. Unsurprisingly, the first attempt to jump above 65 was rejected.

Nevertheless, the volume has been strong during the recovery, showing that buyers want to push BANANA higher.

Currently, I would wait for a break of $65 level and confirmation on the daily timeframe. If this happens, a long trade could become interesting.

Overall, the price action looks like profit-taking after the latest listing. However, since the long-term uptrend didn't break, we can assume ongoing positive momentum.