Biconomy Price Prediction for Today, August 5: BICO/USD May Consolidate Above $0.22 Level

Updated: 05 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.

Join Our Telegram channel to stay up to date on breaking news coverage

The Biconomy price prediction is getting ready to trade above the resistance level of $0.22 as the market moves sideways.

Biconomy Prediction Statistics Data:

Biconomy price now – $0.21
Biconomy market cap – $134.6 million
Biconomy circulating supply – 624.6 million
Biconomy total supply – 1 billion
Biconomy Coinmarketcap ranking – #169

BICO/USD Market

Key Levels:

Resistance levels: $0.28, $0.30, $0.32

Support levels: $0.16, $0.14, $0.12

Biconomy Price Prediction for Today, August 5: BICO/USD May Consolidate Above $0.22 Level — BICOUSD – Daily Chart

BICO/USD is currently ranging around $0.21, and it is likely to climb above the upper boundary of the channel. Now, the Biconomy price has been moving sideways, as the coin is struggling to cross above the 9-day and 21-day moving averages. The Biconomy price is likely to cross above the channel as the red line of the 9-day moving average stays below the green line of the 21-day moving average.

Biconomy Price Prediction: Biconomy (BICO) May Keep Moving Sideways

According to the daily chart, if the Biconomy price crosses above the 9-day moving average; it could hit the nearest resistance level of $0.25. However, a successful break above this level could open the doors for an additional increase to the $0.26 level. In the meantime, any further bullish movement could push the coin to the potential resistance levels of $0.28, $0.30, and $0.32.

Moreover, as the technical indicator Relative Strength Index (14) moves around the 40-level, the nearest support could be found at the $0.20 level. If there is a bearish break below this support, BICO/USD could test another support before breaking toward the lower boundary of the channel. However, any further losses could lead the price toward the support levels of $0.16, $0.14, and $0.12.

When compares with Bitcoin, the Biconomy price is moving bullishly, and the coin hovers around 740 SAT. Therefore, if the price crosses above the channel, there is a possibility that additional resistance levels may be created in the long term. However, the next resistance level above the current price is close to the 800 SAT. Moreover, if the price slides toward the lower of the channel, it could hit critical support at 600 SAT and below.

However, a bullish movement above the upper boundary of the channel may play out and the potential resistance level could be located at 900 and above as the technical indicator Relative Strength Index (14) moves above 40-level, which suggests an upward movement.

Alternatives to Biconomy

The Biconomy price is trading bullishly in the last 24 hours, which takes the coin above the resistance level of $0.20 level. The coin is already keeping two straight days of bullish movements. Meanwhile, BICO/USD is one of the most emerging coins in the market at the moment, and it is likely to touch $0.22 in the coming days

Nevertheless, with Wall Street Memes’ presale at the moment, interested investors may continue to buy $WSM tokens. However, given the presale’s impressive fund-raise, this new token has raised close to $21m during its ongoing presale phase, which indicates growing investor interest.

New OKX Listing - Wall Street Memes

Rating