$BIFI is currently experiencing a downtrend, evidenced by a 2.816% decline over the past 24 hours.
The price oscillated between a high of 181.9 and a low of 146.5, suggesting volatility within this range.
With the current price positioned near the support level of 146.5 and the lower Bollinger Band at 142.12, a break below could trigger further losses.
Conversely, resistance at 181.9 remains a significant hurdle.
The overall market sentiment is bearish, influenced by macroeconomic conditions such as rising inflation and regulatory scrutiny.
Bitcoin's influence on BIFI appears undefined at this moment, suggesting traders may need to rely more on BIFI-specific movements.
Given the current volatility and overall downtrend, a short-term trading strategy may be more prudent.
Key takeaway: Monitor the support level closely—failure to hold may signal deeper bearish momentum.
