Binance Launchpool is on fire! 80% turnover rate of $BIO but no large holders dumping!
The 1-hour K-line chart of BIO today shows a price rebound approaching the resistance level of 0.19851. The MACD death cross and KDJ downward movement form a bearish resonance, but the trading volume has significantly increased during the rebound phase, indicating that the bulls still have a willingness to resist.
The news front is relatively calm, and the performance briefing of Yifang Biotechnology and the BioSig financing event have no direct correlation to BIO in the crypto circle. The market focus remains on the DeSci track narrative.
On-chain data shows that after Binance Launchpool went live, the turnover rate of BIO reached 80%, but there are no signs of large holders concentrating on selling. If the resistance level of 0.19851 is effectively broken, it may trigger a short squeeze to push the price towards the 0.25 area; on the contrary, one should beware of the risk of a second bottom test.
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