The BIO coin is currently trading near $0.316 after a daily increase of approximately +38.02%, with the price moving within a range of $0.224 - $0.321. This positive momentum reflects the entry of new liquidity that has strongly raised the price over the past few days.
For technical indicators:
Moving averages: the price is above the short and medium averages, which reinforces the continuation of the upward trend.
RSI: moving in the positive area near overbought levels, indicating strength in the momentum but with the possibility of a temporary cooling.
MACD: the lines are still positively diverging, confirming that the upward trend has not lost its momentum yet.
Support and resistance levels:
First support: at $0.25 represents a strong base if a correction occurs.
Second support: near $0.22, losing it may weaken the positive outlook.
First resistance: at $0.32, surpassing it opens the way for a new wave of rise.
Second resistance: at $0.38 a key testing area for speculators.
The expectation is that staying above $0.25 enhances the chances of continuing the upward trend with potential targets towards $0.35 - $0.38 in the short term. However, if the second support at $0.22 is broken, we may see a return to profit-taking and strong selling pressure.
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