🚨 Attention, traders! $BIO /USDT is on the edge and with a -17.90% that triggers alarms, currently trading at $0.0610. 📉 The trend is clearly bearish, with the price struggling below key moving averages: the MA(7) at $0.0608, the MA(25) at $0.0627, and the MA(99) much higher at $0.0693, indicating that selling pressure is strong!
The level of $0.0594, the low of the last 24 hours, is the critical support to watch. If it breaks with volume, we could see a continuation of this decline. Above, any attempt at a bullish rally will hit the first important resistance near $0.0627 (that MA25). Be very cautious with these vertical movements, which often smell like pure market manipulation 🎣; they could be shaking the tree to liquidate positions or induce panic before any unexpected turn.
Bears are definitely dictating the pace right now. A small bounce towards the moving averages could simply be a 'pullback' to continue falling, so don't get complacent! For those thinking of entering or already inside, "HODL with caution" and a lot of care. Patience will be key here, as panicking or FOMOing at these levels could be risky. We will be watching to see if the bulls manage to defend the $0.0594 area or if the selling pressure continues its feast. Risk management is vital in these highly volatile scenarios!
