Bitpanda Ecosystem Token Price Prediction – How Much Will BEST Be Worth in 2021?

Bitpanda Ecosystem Token Price Prediction – How Much Will BEST Be Worth in 2021?
  • Bullish BEST price prediction ranges from $1.07 to $3.04.
  • The BEST price might also reach $3.45.
  • BEST bearish market price prediction for 2021 is $0.52.

In BEST price prediction 2021, we use statistics, price patterns, ADX, and much other information about BEST to analyze the future movement of the cryptocurrency. 

BEST is the Bitpanda ecosystem token, which provides a wide range of rewards and benefits in the Bitpanda ecosystem to the growing community of millions of Bitpanda users. BEST is Bitpanda’s loyalty program and, in general, the more BEST users have, the more rewards they can get. It is based on the Ethereum blockchain.

Current Market Status of Bitpanda Ecosystem Token (BEST)

According to Coingecko, the price of BEST is $1.08 with a 24-hour trading volume of $498,036 at the time of writing. However, BEST has increased by 2.3% in the last 24 hours. Currently, BEST trades in cryptocurrency exchanges such as HitBTC, Bitfinex, Bittrex, and Bitpanda Pro.

Bitpanda Ecosystem Token (BEST) Price Prediction 2021

BEST price prediction 2021 explained below with a weekly time frame. 

BEST/USD Falling Wedge Pattern (Source: Tradingview)

Falling Wedge pattern takes place when the price moves in an overall bullish state before the price drops down. This pattern starts wide at the top and contracts as the price moves lower. Moreover, a falling wedge pattern is developed by two converging trend lines when the crypto price moves for a certain period. More so, a falling wedge takes place in a downward shift of movement in the market, it is said to be a reversal trend. 

Currently, BEST is trading at $0.93. After this, BEST may continue to fall or rise according to the direction of breakout. With this pattern, BEST might reach the resistance level at $3.45 soon, if the trend breaks out at $1.10. If the trend reverses, then the price of BEST may fall to $0.46.

Bitpanda Ecosystem Token (BEST) Support and Resistance Level

The below chart shows the support and resistance level of BEST. 

BEST/USD Support and Resistance Level (Source: TradingView)

From the above chart, it observed that the following are the resistance and support level of BEST.

  • Resistance Level 1 – $1.07
  • Resistance Level 2 – $1.74
  • Resistance Level 3 – $3.04
  • Support Level – $0.52

The chart depicts the bearish performance of BEST over the previous month. However, this trend will continue to reach resistance level at $3.04 soon. On the contrary, if the trend reversed then BEST might fall to $0.52 presenting a bearish signal.

Bitpanda Ecosystem Token (BEST) Average Directional Index (ADX)

Let us now look at BEST’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 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 frequently combined with directional indicators.

BEST/USD ADX (Source:TradingView)

The above chart represents the ADX of BEST with the range at 47.78, so it indicates a strong trend.

Conclusion

The BEST is one of the cryptos which is great for long-term investment. In addition, BEST price prediction will be bearish or bullish, until the breakout direction is confirmed. But, it has a good chance of reaching $3.10 this year. However, this will only happen if many previous psychological barriers are broken.

Furthermore, with the advancements and upgrades on the BEST ecosystem, the performance of BEST would rise reaching $3 very soon. But, it might also reach $3.45 if the investors believe that BEST is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It is not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

Monisha is a Senior Programmer in the Automotive Embedded domain. Her interest in the cryptocurrency field made her write about crypto and blockchain-related news.