Bella Protocol Price Prediction 2021 – Will BEL Hit $5 Soon?

Bella Protocol Price Prediction 2021 – Will BEL Hit $5 Soon?
  • Bullish Bella Protocol price prediction ranges from $2.21 to $4.48.
  • Bella Protocol prices might also reach $5 soon.
  • BEL bearish market price prediction for 2021 is $0.95.

In Bella Protocol (BEL) price prediction 2021, we use statistics, price patterns, ADX, 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 $1.92 with a 24-hour trading volume of $16,383,557, at the time of writing. However, Bella Protocol has decreased by 4.2% 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 436th position on CoinGecko right now. Bella Protocol price prediction 2021 explained below with a daily time frame. 

BEL/USDT Showing Descending Channel Pattern (Source: TradingView)

Descending channel trend, designed between downward sloping parallel lines. Lower highs and lower lows characterize this price pattern. Channel trends are used commonly to confirm trends and identify breakouts and reversals. Descending channel trend shows an absolute downtrend. Traders can swing trade between the pattern’s support and resistance levels or trade in the directions of a breakout.

Currently, BEL is trading at $1.981. 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 $2.84 soon, if the trend breaks out at $2.22. If the trend reverses, then the price of BEL may fall to $1.41.

Bella Protocol (BEL) Support and Resistance Level

The below chart shows the support and resistance level of Bella Protocol (BEL). 

BEL/USDT Support and Resistance Level (Source: TradingView)

From the above chart, it is considered that the following are the resistance and support levels of Bella Protocol (BEL).

  • Resistance Level 1 – $2.21
  • Resistance Level 2 – $2.83
  • Resistance Level 3- $4.48
  • Support Level 1 – $1.41
  • Support Level 2 – $0.95

The chart depicts the bullish performance of Bella Protocol over the previous month. However, this trend will continue to reach a resistance level at $4.48 soon. Even more, if the trend reversed then Bella Protocol might fall to $0.95 presenting a bearish signal.

Bella Protocol (BEL) Average Directional Index (ADX)

Let us now look at BEL’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.

  BEL/USDT ADX (Source: TradingView)

The above chart represents the ADX of Bella Protocol. Currently, Bella Protocol lies in the range at 13.853, so it indicates a weak trend.

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 $9.99 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 $2.83 very soon. But, it might also reach $5 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.

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Cryptocurrency and blockchain tech interest has enticed Carolyna to write for NewsCrypto. She made her personal mission to help non-crypto geeks to understand the technology with ease.