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BANANA Coin Rally Has Analysts Going Bonkers – Prediction: A $189 Target
In a shocking turn of events, the cryptocurrency market has been left stunned as Banana Gun (BANANA) coin price surged to roughly $22.00 after dipping to $13 in June earlier this year. This meteoric rise has caught many off guard, with the BANANA coin price spiking by more than 82% since June 16th.
The surge is attributed to a shift in market sentiment as Bitcoin and Ethereum both pushed higher across July, loosening liquidity and reviving risk appetite in altcoins. This shift has buoyed protocols like Banana Gun, which combines Telegram-based sniping tools with token-based incentives, as investors hunt for niche utility plays.
Analysts are now going wild over the potential of this rally, predicting a massive upside move that could see BANANA coin price skyrocket to $189. Yes, you read that right – a whopping 789% increase from its current price.
The prediction is based on a classical technical analysis setup, where the asset has formed an ascending triangle pattern. This pattern typically sees rising higher lows pushing into a flat overhead resistance. The structure reflects increasing buyer aggression and weakening seller dominance at a fixed ceiling, with the $23.63 mark serving as the critical resistance level.
A weekly chart inspection reveals a textbook ascending triangle pattern, characterized by a consistent uptrend in local lows since March. Weekly closes have edged closer to the horizontal resistance band, signaling imminent pressure buildup. The latest close above $21.27 has strengthened the bullish case, particularly with confirmation volume beginning to rise.
Under classical technical analysis guidelines, the price objective of this ascending triangle is projected by measuring its height at its widest point and applying that distance from the breakout level. The resulting upside target aligns perfectly with the horizontal resistance level near $38.78. Any failure to reclaim this key resistance zone could delay the breakout structure and potentially trigger short-term profit-taking.
Meanwhile, sustained momentum beyond the $26.88 barrier opens up a path toward the projected level of $189.
Source: coinchapter.com
