BarnBridge Price Prediction: BOND Drops 5% – Is There More Room for Fall?

Updated: 25 August 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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Following what appeared to be a period of recovery for BarnBridge (BOND), bullish investors now show a strong desire for safety.

BOND’s price has extended its decline by 5% as of yesterday, August 24, below the established support level.

However, the past 24 hours have brought about a further drop of 13.7% in BOND’s price, resulting in a trading value of $2.12 as of 2:58 a.m. EST.

The performance over the month is equally low, with the price reflecting a substantial decrease of 24.2%. Is there more room for fall?

BOND/USD Weekly Chart

Bullish investors are looking forward to a potential upswing in the BOND price, observing that it has reached a double bottom on the weekly chart—a pattern often interpreted as a signal for a reversal towards a bullish trend, as seen above.

Should this scenario unfold, it could give the bullish market participants the confidence to propel the price upwards, recouping a significant portion of their investments.

Furthermore, an upward surge beyond the immediate resistance posed by the weekly 50 simple moving average might validate bullish momentum, potentially paving the way for a rise to BOND’s previous resistance level of $7.04.

BOND/USD Chart Analysis by Tradingview.com

The daily chart of BOND illustrates a declining price movement characterized by decreasing lows and highs.

Bullish investors grapple with ongoing price declines as the price remains confined within a descending triangle pattern.

This pattern suggests a potential continuation of the bearish movement, with the likelihood of the price breaking below this pattern.

The 50-day and 200-day moving averages are positioned above the price levels at $2.86 and $3.7, respectively.

The relative strength index (RSI) further solidifies this bearish outlook, registering a reading of 21 in oversold territory. This suggests persistent selling pressure on the price.

However, this oversold region could set the stage for the bulls to prepare for an impending price surge, coinciding with the double-bottom pattern observed on the weekly chart.

The analysis underscores the anticipation of a further decline in the BOND price, with a significant key support zone at $1.36.

This area could allow bullish market participants to regroup and recover their losses at $4.01. Nevertheless, there remains a possibility of a breach below this support region, which could result in an extended period of price decline.

Sonik Coin presents an enticing prospect for investors seeking rapid and substantial gains. The token demonstrates impressive performance in its ongoing presale fundraising, with quick sellouts being a notable trend.

BOND Alternative – SONIK

A quick look at the website or even the name implies that the project revolves around the iconic character Sonic, which stems from a popular Japanese video game series and media franchise.

Sonic, an anthropomorphic blue hedgehog, takes the lead role in battling the nefarious Doctor Eggman, a mad scientist.

The franchise has expanded into movies and animated shows, cultivating an extensive global fan base.

Where Lambo? $SONIK token come to @Uniswap.
Buy in #ETH. Soooo easy. https://t.co/s1fTdXDQCK pic.twitter.com/5hRf7j2InO

— SONIK COIN (@Sonikcoin) August 25, 2023

The SONIK presale project has raised over $400k in investments, propelling it to the status of the quickest cryptocurrency to reach a market capitalization of $100 million.

This accomplishment, once attained, will solidify SONIK as the next explosive cryptocurrency.

Although not directly linked to Sonic the Hedgehog, Sonik Coin takes inspiration from meme culture and the legendary prominence of Sonic within the gaming internet zeitgeist.

The presale initiative has amassed a significant total of $464,268.15, and with just 11 days left, the presale is swiftly approaching its conclusion.

Investors can actively participate by promptly staking their newly acquired tokens, even before the presale concludes.

According to the Sonik staking dashboard data, participants have already staked around 16,551,764,931 tokens.

Wake Up, Be fast, Buy $SONIK
💨https://t.co/s1fTdXEosi pic.twitter.com/mNgPMrV9MQ

— SONIK COIN (@Sonikcoin) August 24, 2023

The total token supply of SONIK is an intriguing 299,792,458,000, which corresponds to the speed of light at 299,792,458,000 meters per second.

This creative touch is in alignment with the project’s overarching theme.

The distribution of tokens includes 50% designated for the presale, 40% for staking, and 10% for exchange liquidity. Approximately 7.6% of the tokens allocated for the presale have already been staked.

Invest in $SONIK Presale for Potential 50x-100x Returns

Investing $1,000 in $SONIK can generate significant returns, reaching $50,000 or even $100,000 if Sonik undergoes a 50x or 100x price increase for its presale purchasers. After the presale concludes, Sonik Coin will become accessible for trading on the decentralized exchange Uniswap.

Investors can take advantage of this opportunity by securing $Sonik at a presale price of $0.000014. To do so, visit the Sonik website, link your wallet, and complete the purchase by swapping your ETH or USDT to buy the $Sonik tokens.