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 July 05, 2024, Biconomy is trading at approximately 0.2847 USDT. Let’s dive into the detailed price action for BICO-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.2867 |
| High (H) | 0.2878 |
| Low (L) | 0.25 |
| Close (C) | 0.2847 |
| Volume (C) | 10,366,507.04 |
- Open (O): The opening price for today’s trading session was approximately 0.2867 USDT.
- High (H): Biconomy reached a daily high of around 0.2878 USDT.
- Low (L): The daily low for BICO-USDT was approximately 0.25 USDT.
- Close (C): At the time of analysis, Biconomy is trading near its daily close of 0.2847 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -0.70% |
| 3D Change (%) | -22.85% |
| 7D Change (%) | -24.30% |
| 30D Change (%) | -49.38% |
| 90D Change (%) | -62.35% |
| YTD Change (%) | -25.49% |
Over the past three days, BICOUSDT has decreased by approximately -22.85%, showcasing increased market volatility. Throughout the last week, it continued to fall, with a loss of around -24.30%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with BICOUSDT maintaining a downward trend of approximately -49.38%, despite intermittent fluctuations. Examining the last 90 days, BICOUSDT has witnessed substantial drop of approximately -62.35%, reflecting strong long-term confidence. Year-to-date, BICOUSDT has steadily decreased by around -25.49%, 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 0.91612.
- Momentum score is -0.41981.
BICO USDT Technical Analysis
Biconomy Trading Volume:
The trading volume for Biconomy (BICO) over the past 24 hours has been significant, with approximately 10,366,507.04 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 low zone, around 37.12716. This suggests that Biconomy is in bearish 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 low RSI and significant trading volume are low signals for potential downward movement.
Navigate Biconomy’s (BICOUSDT) potential downturns at 2.85e-01 USDT with bearish technical analysis, emphasizing weakened support and cautionary indicators.
Explore more with our thorough insights on BICO BTC Biconomy Technical Analysis — an essential read if you enjoyed the content of this post.
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.