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 cryptocurrency that focuses on providing fast and secure transactions for its users. With Biconomy, users can enjoy lightning-fast transaction processing times without sacrificing security or privacy. By utilizing advanced cryptographic techniques and a distributed network of nodes, Biconomy offers a truly unique and innovative approach to decentralized finance.
Biconomy Price Overview:
As of October 02, 2023, Biconomy is trading at approximately 0.234 USDT. Let’s dive into the detailed price action for BICO-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.2443 |
| High (H) | 0.2524 |
| Low (L) | 0.23 |
| Close (C) | 0.234 |
| Volume (C) | 8,492,723.26 |
- Open (O): The opening price for today’s trading session was approximately 0.2443 USDT.
- High (H): Biconomy reached a daily high of around 0.2524 USDT.
- Low (L): The daily low for BICO-USDT was approximately 0.23 USDT.
- Close (C): At the time of analysis, Biconomy is trading near its daily close of 0.234 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -4.22% |
| 3D Change (%) | -4.65% |
| 7D Change (%) | 10.12% |
| 30D Change (%) | 12.55% |
| 90D Change (%) | -10.00% |
| YTD Change (%) | -13.65% |
Over the past three days, BICOUSDT has decreased by approximately -4.65%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 10.12%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with BICOUSDT maintaining an upward trend of approximately 12.55%, despite intermittent fluctuations. Examining the last 90 days, BICOUSDT has witnessed substantial fall of approximately -10.00%, reflecting strong long-term confidence. Year-to-date, BICOUSDT has steadily decreased by around -13.65%, 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 0.88983.
- Momentum score is 0.12554.
BICO USDT Technical Analysis
Biconomy Trading Volume:
The trading volume for Biconomy (BICO) over the past 24 hours has been insignificant, with approximately 8,492,723.26 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 above the 50-day SMA, indicating short-term bullish momentum.
- 200-day Simple Moving Average (SMA): Biconomy is also trading above the 200-day SMA, indicating a positive long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for BICO-USDT is currently in the neutral zone, around 53.48855. 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 bullish 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 insignificant trading volume are neutral signals for potential sideways movement.
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.
