BICO USDT Biconomy Technical Analysis

Photo of author

By Frans van Elst

Biconomy logo In this Biconomy technical analysis, we will examine the current price action, trading volume, key levels and indicators for BICO-USDT. Biconomy (BICO) is a decentralized finance (DeFi) platform that enables users to access a wide range of financial services on the blockchain. With BICO, users can borrow, lend, and earn interest on their digital assets in a secure and trustless manner. Additionally, Biconomy’s novel multi-chain architecture allows for interoperability between different blockchain networks, further expanding the possibilities for DeFi applications.

Biconomy Price Overview:

As of May 16, 2024, Biconomy is trading at approximately 0.4623 USDT. Let’s dive into the detailed price action for BICO-USDT:

Receive signals of caution for potential Biconomy (BICOUSDT) downturns at 4.62e-01 USDT through bearish technical analysis, accompanied by weakened support and cautionary indicators.

Metric Value
Open (O) 0.4609
High (H) 0.4867
Low (L) 0.4568
Close (C) 0.4623
Volume (C) 6,620,482.00
  • Open (O): The opening price for today’s trading session was approximately 0.4609 USDT.
  • High (H): Biconomy reached a daily high of around 0.4867 USDT.
  • Low (L): The daily low for BICO-USDT was approximately 0.4568 USDT.
  • Close (C): At the time of analysis, Biconomy is trading near its daily close of 0.4623 USDT.
Metric Value
1D Change (%) 0.37%
3D Change (%) 10.62%
7D Change (%) 0.17%
30D Change (%) -8.40%
90D Change (%) 9.39%
YTD Change (%) 20.99%

Over the past three days, BICOUSDT has increased by approximately 10.62%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 0.17%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with BICOUSDT maintaining a downward trend of approximately -8.40%, despite intermittent fluctuations. Examining the last 90 days, BICOUSDT has witnessed substantial rise of approximately 9.39%, reflecting strong long-term confidence. Year-to-date, BICOUSDT has steadily increased by around 20.99%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.

Biconomy Live Chart:

You can access a live price chart for BICO-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.

Price Volatility and Momentum:

  • Volatility score is 0.65171.
  • Momentum score is -0.08727.

BICO USDT Technical Analysis

Biconomy Trading Volume:

The trading volume for Biconomy (BICO) over the past 24 hours has been significant, with approximately 6,620,482.00 USDT traded against BICO. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.

Moving Averages:

  • 50-day Simple Moving Average (SMA): BICO is currently trading below the 50-day SMA, indicating short-term bearish momentum.
  • 200-day Simple Moving Average (SMA): Biconomy is also trading below the 200-day SMA, indicating a negative long-term outlook.

Relative Strength Index (RSI):

  • The RSI30 for BICO-USDT is currently in the neutral zone, around 47.00581. This suggests that Biconomy is in range-bound territory.

Analysis from TradingView:

Our Key Takeaways:

Biconomy (BICO-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the neutral RSI and significant trading volume are neutral signals for potential sideways movement.

Receive signals of caution for potential Biconomy (BICOUSDT) downturns at 4.62e-01 USDT through bearish technical analysis, accompanied by weakened support and cautionary indicators.

For a deeper dive into the subject, don’t miss our comprehensive analysis on BICO BTC Biconomy Technical Analysis if you found this post intriguing.

Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.

Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.

Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.

You have not selected any currencies to display