Biconomy Token has been the third-best-performing crypto on the day. So far, this crypto has increased in value by 23.16% today, which is an impressive performance. However, it will be beneficial for us to further examine this market before investing in it. So, let’s begin.
Biconomy Analysis Data:
Biconomy value now: $0.5100
BICO market cap: $240,627,371
BICO moving supply: 480,902,110
Biconomy Total Supply: 1,000,000,000
BICO Coinmarketcap ranking: #154
Major Price Levels:
Top: $0.5100, $0.5500, $0.6000
Base: $0.5000, $0.4900 $0.4800
Biconomy (BICO) Price Action Seems to Focus On Breaking a Higher Resistance Level
To begin with, Biconomy price performance on the daily chart has been very impressive. In this ongoing session, buyers seem to have swarmed the market, and they were able to push prices upward. Also, the 9 and 21-day Moving Average curves are now below the last bullish price candle here. By implication, the BICO/USD market seems to be indicating that the price may rise further. In addition, the RSI lines are now above the 50 levels of the indicator. However, it can be seen that the RSI lines remain well apart and are rising toward the 70 mark. Consequently, this is pointing to an additional price increase in this market.
Biconomy (BICO) Eyes Price Mark $0.6000
On the 4-hour BICO/USD market, price action continues to gather upside momentum. Headwind seems to have acted on price action in this market, but buyers seem to have quickly overcome it considering the price candle for the past two sessions. At this point, a dashed green price candle has formed at a good distance above the 9 and 21-day moving average lines. Meanwhile, the RSI lines are on their way to the oversold region. However, it is important to notice that the tips of these lines seem to be approaching each other for a bullish crossover above level 50. Given the last price candle on this chart, traders can anticipate that buyers will remain in control. Consequently, this will keep the Biconomy price on its way toward the $0.6000 mark as the RSI eventually gives a bullish crossover.
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