BONE Technical Analysis!

30 Jul

The BONE crypto has been trapped in a falling wedge from a prolonged span, where the range is concentrated. The BON has recently taken a brief support from the lower border of the wedge, and struggles near 50-day EMA.

Once the price surpasses both EMA's, a long term bullish move could be anticipated. At press time, the BONE traded at $0.4788, where the market cap ranking was 343rd with an amount of $110.2 Million.

Similarly, the MACD and RSI portray a bearish side, and all indicators combined have a mixed bias. But, the price of BONE showed optimism, based on certain conditions met first. Like the dynamic hurdles of EMA bands to be cleared first for the upper border target to manifest.

Therefore, with a bullish spike, the hurdle could act at $0.75, and $1.0, respectively. However, if it dips, then $0.40 and a lower border would act as a defense.