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BONE Price Soars to 90-Day High; Overbought Signals Spark Caution

Published 02/08/2023, 12:30
Updated 02/08/2023, 14:45
BONE Price Soars to 90-Day High; Overbought Signals Spark Caution

  • BONE’s strong support at $1.51 sparks bullish momentum to record a 90-day high.

  • Bullish Aroon and MACD indicators point to potential gains if bulls’ power does not fade.

  • High RSI and shifting stochastic RSI warns of overbought market, brace for correction.

After consolidation in the Bone ShibaSwap (BONE) market, support was established at $1.51. This level had previously served as a strong resistance zone but now appears to be a solid support zone.

As a result, bulls swept away the bears’ reign and began pushing BONE prices higher. The increased buying pressure resulted in a significant uptrend, with the price reaching a 90-day high of $1.73 before coming up against resistance.

If the bulls break through the resistance, the next critical level to watch for is $1.80, potentially opening the door to further gains. However, if the resistance holds, traders may experience a temporary consolidation or a minor pullback as they take profits at these levels.

BONE was priced at $1.66 at press time, a 7.92% increase from its previous close, reflecting the market’s positive momentum. Furthermore, Bone’s market capitalization and 24-hour trading volume increased by…

The post BONE Price Soars to 90-Day High; Overbought Signals Spark Caution appeared first on Coin Edition.

The post BONE Price Soars to 90-Day High; Overbought Signals Spark Caution appeared first on Coin Edition.

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