BONE’s Price Is Currently Resting on a Key Support Level

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.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

The post BONE’s Price Is Currently Resting on a Key Support Level appeared first on Coin Edition.

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