Important collection restaurants
The BIO protocol saw a healthy momentum reset on the time frame of 1 days, and a jump of 62% in the last 24 hours was one of the factors that indicated the threatening bullish force.
Bio -protocol [BIO] has begun to recover from his deep retracement. The $ 286 million market capitalization Token went back deeper than expected in a recent Ambcrypto report, in which $ 0.15 was emphasized as an important support.
Bio fell on the basis of the rally that started on August 19. By doing this, the market structure returned to the daily period of bears. Bitcoin [BTC] Disconnected from the stock market and the hope for an altiation season.
Ethereum [ETH] Saw his validator queue climb to 860k ETH. The Ethereum Smart Contract Owlayer saw its total value locked (TVL) reach a record of $ 21 billion, which implies that ETH is turned off at a record pace.
The market leaders, Bitcoin and Ethereum, can help shift the crypto -sentiment bullishs, which would have a positive influence on bio.
Until that time, Bio -Protocolbulls have to wait for their time and claw back some of the profit they lost during the retracement.
The path for the Bio protocol
Source: Bio/USDT on TradingView
The RSI on the 1-day period of time has reset to neutral 50 after climbing to 84 two weeks ago. This reflected a healthy reset for the momentum and bio -bulls.
The swing structure was bullish because the price was still above the higher layer at $ 0.1209. The internal structure, however, was bearish, but a movement above $ 0.18 could change this.
In comparison with the beginning of August, the OBV also ran higher, just like the price, which reflected that the purchasing pressure was dominant despite the recent price at the price. Constantly buying and obvtick would signal the strength of the bio protocol.
Source: Bio/USDT on TradingView
The graph of 4 hours indicated that traders should expect Bullish strength in the coming days. The OBV jumped higher after the recent setback. The Bio prices also threw that up, cleaning up the Bearish Order block (cyan) for $ 0.162- $ 0.173.
At the time of writing, this zone was re -tested as support. The price structure of 4 hours was Bullish and there seemed to be more profit at the weekend and the next week.
Disclaimer: The presented information does not form financial, investments, trade or other types of advice and is only the opinion of the writer
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