BONE’s Price Is Currently Resting on a Key Support Level
- The price of BONE has risen more than 10% in the last 24 hours.
- BONE’s price surged 25.85% on 8 March 2023 to break a key resistance level.
- Technical indicators for the altcoin are currently in limbo.
In the last 24 hours, Bone ShibaSwap (BONE), has experienced a price increase of 10.17% according to the crypto market tracking website, CoinMarketCap. This takes its price to $1.68 at press time.
In addition to strengthening against the Dollar, BONE has also strengthened against the crypto market leaders, Bitcoin (BTC) and Ethereum (ETH), by 7.52% and 6.78% respectively. The altcoin was able to reach a daily high of $1.76 and set its daily low at around $1.48.
Daily chart for BONE/USDT (Source: TradingView)
BONE’s price broke above the key resistance level at $1.5997 on 8 March, 2023 with a 25+% spike in its price. This price pump saw the altcoin’s price rise from a low of $1.3801 to a high of $1.8797 before closing off the day’s trading session at $1.8085.
The 2 days that followed the price pump both saw BONE’s price close below its opening price. This pushed its price back down to the crucial $1.5997 level, which it is currently resting on.
Technical indicators on BONE’s daily chart are in limbo at press time, which suggests that traders and investors are waiting for a confirmation of BONE’s next move.
Currently, the 9-day EMA is trading just below the 20-day EMA line and the daily RSI line is trading just below the daily RSI SMA line. A confirmation that BONE’s price will drop in the coming 24 hours will be if it closes today’s trading session below $1.5997. On the other hand, a confirmation that its price will rise will be if it closes today above the price level.
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