Will BONE Price Reach the $1 Level?

Bone ShibaSwap crypto is trading below the key moving averages showcasing the bearishness. The bears are showing their dominance. 

Over the week, Bone ShibaSwap crypto has experienced a decrease of approximately 6.45%. Looking back over three months, BONE cryptos have dropped by about 4.94%, while the decline extends to around 58.69% over the last six months. Furthermore, the crypto’s performance throughout the year has been lackluster, with a year-to-date slump of approximately 14.32%.

At press time, the Bone ShibaSwap crypto price was $0.5812, with an intraday loss of 1.41%, showing bearishness on the charts. Moreover, the trading volume is 12.30 Million. The market cap is $133.77 Billion. Moreover, analysts maintained a strong buy rating with a yearly target price of $1.00, suggesting a bullish outlook for the coming sessions.

Technical Analysis of Bone ShibaSwap Crypto Price in 1-D Timeframe

Bone ShibaSwap ( USD: BONE) crypto price has dropped steadily for the past three months, losing 5.10%. At the time of writing, BONE crypto is trying to take pullback.

If Bone ShibaSwap can maintain its current level, its price could continue to rise and reach the first and second targets of $1.00 and $1.50 respectively. However, if BONE price cannot sustain this level and falls, it may hit the nearest support levels of $0.5373 and $0.4000.

Currently, Bone ShibaSwap crypto (USD: BONE) is trading below the 50 and 200-Day SMAs (Simple Moving Averages), supporting the price trend. However, if selling volume increases, the price may break through the supporting SMAs by creating lower highs and lows. Therefore, the BONE price is expected to move downwards, indicating a bearish trend over the daily timeframe chart.

The current value of RSI is 45.59 points. The 14 SMA is above the median line at 51.46 points which indicates that the Bone ShibaSwap crypto is bearish. The MACD line at 0.0013 and the signal line at 0.0004 are above the zero line. A bearish crossover was observed in the MACD indicator which signals more bearishness for the BONE crypto price.

Summary

Bone ShibaSwap crypto (USD: BONE) is trading in the bearish influence heading in the downward direction by making a lower low structure. The MACD, RSI, and EMAs are signaling a downtrend in the crypto.

Technical Levels

Support Levels: $1.00 and $1.50

Resistance Levels: $0.5373 and $0.4000 

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.

With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.