Biconomy (BICO) Looks Set for More Price Increases

Biconomy token stands as the second token to have seen the most price movement in today’s trading activity. The token started the week by printing losses as its price action dipped below an important level. Nevertheless, the market has started improving since yesterday’s trading session, when its price rebounded upwards, while today’s has been an extension of what started.

Biconomy Statistics:
Current BICO Value: $0.3492
Biconomy Market Cap: $221,538,162
BICO Circulating Supply: 636,006,367
Biconomy Total Supply: 1,000,000,000
BICO CoinMarketCap Rank: 198

Key Price Levels:
Resistance: $0.3492, $0.3500, and $0.3600
Support: $0.3400, $0.3300, and $0.3200

Biconomy Price Action at an Important Crossroad

Price activity in the BICO daily market has reached an important region. Crossing above this region will determine if more can be expected from this market or not. The ongoing session has brought the market to test the 21-day Moving Average (MA) curve. Meanwhile, an upper shadow can be seen on this price candle, indicating that price movement may be encountering resistance at this junction. Nevertheless, convergence can be seen on the Moving Average Convergence Divergence (MACD) indicator lines. By implication, this suggests that upside market forces are still favored to remain dominant in this market.

BICO May Extend Upside Corrections Towards Higher Levels

Biconomy’s price action can be seen above the 21-day MA line on the 4-hour market. A long price candle stands just above the mentioned indicator line, indicating that the market is already eyeing a nearby resistance level. Also, the MACD indicator lines are rising steadily upward from below the equilibrium level.

With the bars of the MACD consistently green, it shows that bulls are in charge at the moment and therefore may initiate further price increases. Consequently, traders might want to stick with crypto signals with targets around the $0.3600 mark, as it seems the market is heading in that direction.

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