Bella Protocol is a platform that provides a range of DeFi products designed to make crypto banking simpler and easier to access.
The developer of the Bella Protocol project aims to solve the problem of high as well as slow transactions and in turn create a better user experience in using the DeFi smart portal.
The protocol was officially launched in September 2020 as the first project to go through the Launchpool platform in Binance and was founded by Felix Xu and Yemu Xu who now have their headquarters in Beijing, China.
The launch has enabled Bella Protocol to secure investments from several leading companies such as Arrington XRP Capital and Ledger Capital.
Based on the BEL/USDT chart, the BEL price movement can be seen to jump slightly above 37% to return to the SBR zone (support become resistance) around $ 1.30- $ 1.40.
But the surge reaction was cut short at the July market opening when the BEL price made a decline of around 7% which is expected to re -test the $ 0.90 support level.
The decline will also be assessed by investors whether the support level is able to support the price spike or continue to make the decline.
If the BEL price movement is driven to continue declining, the price is expected to test the $ 0.60 resistance level and will be the all -time low (ATL) level for the 2021 market movement.
If the price manages to make a rebound, the SBR zone of $ 1.30- $ 1.40 is to be tested and will give an early indication for the price to rebound.
The next SBR zone around $ 1.70- $ 1.80 will be the main zone to test if the price increase is successful to continue to make a bullish trend again.
As of 4.00 pm local time, the BEL price made a decline of about 7% to trade at the price level of around $ 1.09.
