LUCKNOW (CoinChapter.com)—The price of Banana Gun (BANANA) surged to $20 on March 16, 2025, earlier than the rally misplaced momentum and sputtered out. The token was going to outperform its betters within the sector earlier than it succumbed to bearish strain.
Banana Gun is a Telegram-based buying and selling bot designed for automated buying and selling throughout a number of chains, together with Ethereum, Solana, and Binance Good Chain. The challenge has steadily expanded its ecosystem, positioning itself as a go-to device for merchants looking for pace and effectivity.
The BANANA token has a complete provide of 10 million, with roughly 3.2 million presently in circulation. A good portion of the provision—round 46%—is allotted to the treasury and ecosystem fund, with 2.5 million tokens vesting over two years.
BANANA Value Dropping Momentum
BANANA price failed to keep up its latest momentum, signaling a attainable slowdown in shopping for strain. The token surged from a March low of roughly $10.29 to a latest excessive close to $20 however has since confronted resistance. The newest price motion reveals a rejection close to the 0.618 Fibonacci retracement stage round $19.93, indicating that sellers are stepping in at key resistance zones.
The 20-day exponential transferring common (EMA) is trending beneath the longer-term EMAs, suggesting that the broader downtrend stays intact regardless of the latest rally. The instant resistance stays close to $19.88, with a stronger barrier close to $22.57.
A sustained breakout above these ranges might set off a transfer towards the 0.786 Fibonacci retracement at $22.55. Nevertheless, failing to reclaim these ranges might see BANANA price retesting decrease helps, with $16.30 performing as the primary vital draw back goal, adopted by $13.96.
The Relative Power Index (RSI) has climbed from oversold ranges however stays beneath 50, confirming that bullish momentum has weakened. The amount profile additionally reveals a decline in shopping for strain, with quantity fading after the preliminary breakout. This means that the rally might be dropping steam except new catalysts emerge.
For now, BANANA stays at a crucial juncture. A push above $19.88 might prolong positive aspects, whereas rejection at resistance zones might reinforce a bearish continuation.
What Drove The Value Rally?
The newest rally has been fueled by rising group engagement and market enthusiasm. Over the weekend of March 15-16, influential voices on X amplified curiosity within the challenge. A number of merchants on X highlighted BANANA’s sturdy assist among the many Hispanic crypto group, referencing a latest livestream by @CdeCriptoz, additional legitimizing the challenge.
One other dealer, Donnie100x, referred to as BANANA a “top conviction” choose, emphasizing its multi-chain performance and talent to face up to broader market downturns.
Rising buying and selling quantity performed a key position within the BANANA price rally. On March 15, BANANA’s 24-hour buying and selling quantity hit $141 million, indicating sturdy shopping for exercise. The surge coincided with relative market stagnation, making the token’s outperformance much more pronounced.
Nevertheless, the price motion later means that the rising shopping for strain probably resulted from a pump-and-dump scheme as an alternative of tangible cues. Moreover, considerations exist across the challenge’s tokenomics. The treasury holds almost half the entire provide, with a good portion vested over time.
Whereas the emissions construction goals to reduce inflation, questions stay concerning the long-term results of unlocking giant parts of tokens. Moreover, the revenue-sharing mannequin guarantees 40% of bot charges to holders, however deductions for referrals might impression precise payouts.
Whereas not instantly affecting price, these components are vital for these assessing the sustainability of BANANA’s development.
An older however related issue within the token’s latest trajectory is its enlargement inside decentralized exchanges. In late Feb. 2025, Banana Gun built-in with the Sonic ecosystem, including assist for WAGMI and SwapX v2 + v3. Whereas this transfer initially bolstered liquidity and visibility, its impression is now secondary to latest developments driving the token’s momentum.