Bone ShibaSwap price prediction suggests that the BONE crypto is presently moving in an uptrend after breaking out of the bears’ stronghold. The price is above the critical EMAs on the daily timeframe. The volume declined slightly indicating that there is a fall in buying and selling activity.
If the price gains buyers’ support at the present level, it could surge around 10% near the price of $0.9500 within the next few weeks, whereas the immediate support level for the BONE token is below around $0.8500. The price movements are relevantly more stable for BONE crypto than other major cryptocurrencies.
Buyers have an adequate probability of attaining the expected target if they are able to sustain the price above the 200 EMA which would put the anticipated outcomes in the bulls’ favor. The present value of BONE is $0.8813 with a market capitalization of around $202.93 Million at press time.
Bone ShibaSwap price has been in a bull trend for the past few months. After breaking out, BONE crypto price has been finding consistent support from the bulls from the trendline. Observing the historical price action, it can be estimated that the 200 EMA level has been acting as a crucial demand zone.
Technical Analysis of Bone ShibaSwap Crypto Price in 1-D Timeframe
Bone ShibaSwap (USD: BONE) crypto price has been on the rise for the past week, gaining 8.07%. Currently, BONE crypto is at $0.8813 and has been trying to hold on to this level after an unexpected surge in price.
If it can sustain at this level, Bone ShibaSwap price could continue to go up and reach the first and second targets of $0.9066 and $1.3620, respectively. However, if the BONE price cannot maintain this level and falls, it might hit the closest support levels of $0.6450 and $0.5000.
Currently, Bone ShibaSwap crypto (USD: BONE) is trading above the 50 and 100-day EMAs (exponential moving averages), which are supporting the price momentum.
However, if buying volume adds up, then the price might support bullish momentum by making higher highs and new highs. Hence, the Bone ShibaSwap price is expected to move upwards giving bullish views over the daily time frame chart. The current value of RSI is 64.33 points. The 14 SMA is above the median line at 69.53 points which indicates that the Bone ShibaSwap crypto is bullish.
The MACD line at 0.0275 and the signal line at 0.0194 are above the zero line. A bullish crossover is observed in the MACD which signals strength in the momentum of the BONE crypto price.
Summary
Bone ShibaSwap (USD: BONE) technical oscillators are bullish. The MACD, RSI, and EMAs are emphasizing positive signs and imply that the uptrend may continue in the BONE crypto price. Price action suggests that the investors and traders are bullish on the 1-Day time frame. However, investors and traders should wait for proper setup for the next move and avoid FOMO.
Technical Levels
- Support Levels: $0.6450 and $0.5000.
- Resistance Levels: $0.9066 and $1.3620.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/09/27/bone-shibaswap-crypto-will-bone-crypto-price-break-200-ema/