Biconomy Price Prediction for Today, September 2

Biconomy Price Prediction for Today, September 2 – BICO Technical Analysis

Updated: 02 September 2023

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The Biconomy price prediction shows that BICO couldn’t break above the $0.21 level as the coin could settle in consolidation around the $0.20 level.

Biconomy Prediction Statistics Data:

Biconomy price now – $0.20
Biconomy market cap – $134.7 million
Biconomy circulating supply – 657.6 million
Biconomy total supply – 1 billion
Biconomy Coinmarketcap ranking – #162

BICO/USD Market

Key Levels:

Resistance levels: $0.26, $0.28, $0.30

Support levels: $0.16, $0.14, $0.12

Biconomy Price Prediction for Today, September 2 - BICO Technical Analysis — BICOUSD – Daily Chart

According to the daily chart, BICO/USD is pushing for consolidation around $0.20 but the trend has a bearish inclination, which may likely test the support at $0.19 as it moves below the 9-day and 21-day moving averages. The technical indicator remained bearish as the Relative Strength Index (14) is likely to cross below 40-level.

Biconomy Price Prediction: Can BICO Price Go Lower?

At the moment, the Biconomy price is likely to test the nearest support at $0.19 but the best the bulls can do is to defend the support at this level and focus on pulling toward $0.21. In the past few weeks, the Biconomy lost balance alongside other cryptos, and the sharp drop affected the buyers from an attempted recovery above the 9-day and 21-day moving averages. As it is now, any further bearish movement toward the lower boundary of the channel could hit the supports at $0.16, $0.14, and $0.12 respectively.

Moreover, the coin is already on the negative side and therefore a slight bullish action is expected to correct the declines with a possible jump above $0.21. Meanwhile, if there is an increase in buying pressure, the price may break above the 9-day and 21-day moving averages to reach the $0.24 resistance. While trading at that level, the bullish continuation could push the coin to the resistance levels of $0.26, $0.28, and $0.30.

BICO/BTC Prepares for the Upside

Against Bitcoin, the Biconomy bulls are now showing commitment to the trading as the market price follows the recent positive signs over the past few days, therefore, the trend may continue to follow the uptrend if the buyers push the price above the 9-day and 21-day moving averages.

However, as the signal line of the Relative Strength Index (14) moves to cross above the 50-level, this could take the Biconomy price to the resistance level of 950 SAT and above. On the contrary, if the sellers step back into the market, it may cause the coin to touch the support level of 650 SAT and below.

Biconomy Alternatives

The Biconomy price is still hovering below the 9-day and 21-day moving averages but any further bearish movement toward the lower boundary of the channel could bring the coin to the downside. From above, a sustained move above the moving averages may create momentum for the bulls with a focus on moving the market to higher levels.

Nevertheless, the Wall Street Memes community stands robust and lively, making the wisest choice to acquire the token at this moment, not in the future. Simultaneously, the token has already gained more than $25 million in the presale as the countdown to its official launch commences.

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