How will Lorenzo Protocol's BANK develop after it soars? Is it a rebound or a callback?

Lorenzo Protocol's BANK token price soared over 135% within 24 hours after Binance announced the launch of the BANKUSDT perpetual contract. As Binance offers up to 50 times leverage, this has sparked strong interest among investors and pushed BANK prices to new heights, becoming one of the hottest assets of the day. Let's explore the reasons for this surge and the possible trend of BANK prices in the short term.

How will Lorenzo Protocol's BANK token develop after it soars? Will it continue to rise or will there be a pullback?

Why BANK tokens attract much attention

Binance, the world's largest cryptocurrency exchange, announced that it will launch the BANKUSDT perpetual futures contract at 18:30 on April 18, 2025 (UTC time). This allows traders to use up to 50 times of leverage to bet on the price of BANKUSDT, greatly increasing market exposure and liquidity.

Previously, BANK tokens were marked as high-risk, high-return speculative assets in Binance's Alpha market. Today, entering Binance’s contract trading platform marks the entry of BANK tokens into the mainstream market, which will open up new channels for increasing trading volume and wider market participation.

After the announcement, BANK token price surged by more than 160%

According to CoinMarketCap, after Binance issued the announcement, the price of BANK token soared to US$0.05627, an increase of up to 160%. Despite the price drop, it still rose 135.95%, trading at nearly $0.04925 and market capitalization of nearly $24 million.

Data source: CoinMarketCap

This clearly reflects the healthy sentiment of the market and shows that traders are looking for higher returns after futures are listed.

Bullish signal: 15 minutes technical analysis chart

On the 15-minute chart, the BANK token is forming a downward channel pattern structure, which usually indicates that the bullish trend will continue after a sharp rise. Currently, the token price is located in this channel and is consolidated.

The following are some things worth paying attention to:

Bullish breakthrough scenario

- Key Breakthrough Level: $0.05050 to $0.05100

- Breakthroughs above the upper trend line and rising trading volumes may cause the price to soar to the $0.052 to $0.055 range.

- The MACD indicator shows signs of flattening and may soon turn positive, which will further verify the potential of the breakthrough.

Bearish Breakthrough Risk

- Key support level: $0.045

- If there is a long-term decline below this point, it is expected to fall further to $0.042, invalidating the bullish scenario.

Short-term BANK Price Forecast: Bullish Bias Stay Always

If the bullish trend continues, the BANK token may:

- Retest and break through the resistance level of $0.0515 in the coming days, looking for $0.055-0.058.

- As futures market participation increases, it will eventually begin to gain momentum, resulting in short-term volatility and more bullish price movements.

Data source: Bitget

However, traders need to pay close attention to support near $0.045, as if this level cannot be held, it may turn to a more consolidated or revised short-term trend.

This article will introduce this article. Regarding the development of Lorenzo Protocol's BANK token after the surge, whether it will rebound or pullback, please continue to pay attention to Script Home for more analysis of BANK's future trends. I hope everyone will support Script Home in the future!

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