$BB Price Drops to $0.1182 as Bears Maintain Control
BounceBit ($BB) continues its downward slide, currently trading at $0.1182, down by 8.66% in the last 24 hours. The token is showing clear weakness after failing to hold above the $0.1300 psychological resistance. The 24-hour range between $0.1311 (high) and $0.1174 (low) reflects strong volatility, with sellers dominating most of the session.
On the 4-hour chart, the Parabolic SAR dots remain above the candles at $0.1302, indicating an active bearish trend. The MA(5) sits below the MA(10), confirming a short-term downtrend and lack of strong buying interest. Volume has also decreased to around 1.29M, showing that traders are being cautious and waiting for a clearer reversal signal before entering new positions.
Despite this selloff, the support level near $0.1170 has become a crucial point to watch. A successful defense of this zone could encourage a rebound toward $0.1220–$0.1250 in the next sessions. Conversely, if bears push the price below $0.1150, we may see an extended correction targeting $0.1100 or even lower.
In terms of performance, BB has declined 7.22% in 7 days and 43.44% in 30 days, revealing sustained bearish pressure. However, a 0.34% gain over 90 days shows that long-term holders are still maintaining confidence in the project’s fundamentals. With RSI indicators moving into oversold territory, a short-term bounce could be on the horizon once sellers start to lose momentum.
In summary: BounceBit is in a critical testing phase. The token needs to hold above $0.1170 to avoid deeper losses. A confirmed breakout above $0.1225 may flip short-term sentiment back to neutral or even slightly bullish. Until then, traders should remain cautious and watch for consolidation signals around current levels
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