It is a well-known fact that the price of any cryptocurrency can be predicted by its current supply and demand. Once this happens, this will set the price of the coin, and many investors will start investing in it. However, the Bitpanda Ecosystem Token (BEST) is completely different from the rest of the coins and tokens.
Bitpanda, the European-based bitcoin exchange, has recently launched its own cryptocurrency wallet, BEST, which is designed to help users spend and save their bitcoins. Over its lifetime, Bitpanda’s wallet has been successful in increasing bitcoin adoption and usage.
The cryptocurrency market is booming right now. This is due to a variety of factors, some positive, some negative, but all of them leading to the growth of one of the biggest asset classes in the world. Bitcoin started the year at $1,300 and is now just over $7,000, with Ethereum also growing to over $400. Even the much-maligned altcoins (or ‘alt-coins’, as people dislike to call them) have seen strong growth, and the market cap of all cryptocurrencies is now above $500 billion, almost as much as the $500 billion global stock market.
- The range of bullish BEST price predictions is $1.07 to $3.04.
- The LOWEST price may be as low as $3.45.
- For 2021, the best negative market price forecast is $0.52.
We utilize data, price trends, ADX, and other information about BEST to evaluate the cryptocurrency’s future movement in BEST price forecast 2021.
BEST is the Bitpanda ecosystem currency, which offers a broad variety of incentives and advantages to the expanding community of millions of Bitpanda users in the Bitpanda ecosystem. BEST is Bitpanda’s loyalty program, and the more BEST points a user has, the more incentives he or she may get. It’s built on Ethereum’s blockchain.
Bitpanda Ecosystem Token’s Current Market Situation (BEST)
BEST is now trading at $1.08, with a 24-hour trading volume of $498,036 according to Coingecko. BEST, on the other hand, has risen by 2.3 percent in the past 24 hours. BEST now trades on HitBTC, Bitfinex, Bittrex, and Bitpanda Pro, among other cryptocurrency exchanges.
Price Prediction for Bitpanda Ecosystem Token (BEST) in 2021
With a weekly time period, the BEST price forecast for 2021 is given below.
Falling Wedge Pattern (BEST/USD) (Source: Tradingview)
When the price advances in an overall positive direction before dropping, it forms a Falling Wedge pattern. This pattern begins broad at the peak then narrows as the price falls. Furthermore, when the crypto price moves for a length of time, two converging trend lines form a falling wedge pattern. A falling wedge occurs when there is a downward change in market movement, which is referred to as a reversal trend.
BEST is now trading at $0.93. Following that, BEST may continue to decline or climb, depending on the breakout direction. If the trend breaks out at $1.10, BEST may be able to hit the $3.45 resistance level shortly. If the trend continues, the price of BEST may drop below $0.46.
Support and Resistance Levels for Bitpanda Ecosystem Token (BEST)
The BEST support and resistance levels are shown in the chart below.
Support and Resistance Levels in BEST/USD (Source: TradingView)
The following are the BEST resistance and support levels, as seen in the preceding chart.
- $1.07 is the first level of resistance.
- $1.74 is the second level of resistance.
- $3.04 – Level 3 Resistance
- $0.52 – $0.52 – $0.52 – $0.52 – $0.52
BEST’s negative performance during the preceding month is shown in the chart. This trend, however, will eventually hit the $3.04 resistance level. BEST, on the other hand, may fall below $0.52 if the trend reverses, indicating a negative warning.
Average Directional Index for Bitpanda Ecosystem Token (BEST) (ADX)
Let’s have a look at the Average Directional Index of BEST (ADX). The ADX, in particular, aids traders in assessing the strength of a trend as opposed to its direction. It may also be used to see whether the market is shifting or if a new trend is about to start. However, it is connected to the Directional Movement Index (DMI).
The oscillator also has a range of 0 to 100. Furthermore, a high number indicates a strong trend, while a low value indicates a weak trend. It’s also often used in conjunction with directional indicators.
ADX BEST/USD (Source:TradingView)
The ADX of BEST is seen above, with a range of 47.78, which suggests a strong trend.
The BEST is a cryptocurrency that is ideal for long-term investment. Furthermore, until the breakout direction is verified, the BEST price forecast will remain bearish or bullish. This year, though, it has a strong probability of hitting $3.10. This, however, will only happen if a number of prior psychological obstacles are overcome.
Furthermore, with the improvements and updates to the BEST ecosystem, BEST’s performance is expected to skyrocket to $3 in the near future. However, if investors think BEST is a solid investment in 2021, it might reach $3.45.
Disclaimer: The views stated in this graph are entirely those of the author. It should not be construed as investment advice. Before investing, TheNewsCrypto staff advises everyone to conduct their own research.
BEST, or the Bitpanda Ecosystem Token, is a cryptocurrency token that is backed by the Bitpanda Ecosystem, which is an ecosystem of services designed to benefit the Bitpanda community. The Bitpanda Ecosystem is offered in two ways. First, Bitpanda is a cryptocurrency exchange platform and a wallet provider that is fully integrated into the Ecosystem. Secondly, Bitpanda is a service that operates an escrow service and an international bitcoin bank.. Read more about share token price prediction and let us know what you think.
Frequently Asked Questions
What is best on Bitpanda?
Bitpanda is a cryptocurrency exchange that offers trading in Bitcoin, Ethereum, Litecoin and other digital currencies.
How can I buy best Bitpanda?
Bitpanda is a cryptocurrency exchange that allows users to buy and sell cryptocurrencies. You can use their website, or you can use the app on your smartphone.
What is Bitpanda coin?
Bitpanda is a cryptocurrency exchange that allows users to buy and sell cryptocurrencies.
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