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- 1 BONE token price chart shows a breakdown amid follow-on selling momentum.
- 2 The token has breached the crucial mark of $1 and is highlighting a sell-off.
The BONE price witnessed a massive setback and is delivering bearish waves on the charts. In the first trading session of this month, the token faced sharp rejection from the $1.80 mark, thereafter sellers persisted in pushing the token and remained active throughout the month. The price action signifies bearish dominance and implies follow-on selling pressure, leading to a correction over 54% this month.
At press time, the Bone token (BONE ) price was trading at $0.7215 with an intraday drop of 8.12%, reflecting bearishness on the charts. It has a monthly return ratio of -15.20% and -33.16% yearly. The pair of BONE/BTC is at 0.0000110 BTC, and the market cap is $180.03 Million. Analysts are bearish and suggest that BONE price may persist in a downtrend and will slide to the demand zone of $0.5000 soon.
BONE Price To Volume Analysis Over Daily Charts
The chart showcased a downfall and follow on lower low swings was spotted on the charts. The token has breached the key 200 day EMA support level and the round mark of $1 in the last sessions. Afterward, the token failed to hold gains and persisted in draining gains signifying selling pressure. The intraday trading volume surged over 7.27% to $11.13 Million.
Price Volatility and Weighted Sentiment Overview
The above data showcased the price volatility and weighted sentiment outlook, which revealed that the volatility remained lower and the value stayed below the midline near 0.022. However, the weighted sentiment remained in the positive region, noting around 0.278.
Social Dominance & X Followers Outlook
Amidst the price decline, the social dominance data showcased steady movements and remained average, noting around 0.066% implying neutrality. However, the X followers data revealed a decline of over 126% to 8564 reflecting a negative outlook.
Active Addresses and Amount of Holders Overview
The data shows that, there is slow & steady decline in the active addresses, which was dragged to 2458, whereas the total amount of holders data showcased a steady up move, noted around 95.2k
Per the Fib levels, the BONE token price has slipped below the 23.6% zone and is replicating a severe fall in the past sessions. Similarly, the RSI curve slipped to the oversold region and is depicting a bearish crossover on the charts.
The total supply of the BONE token is 250 million, whereas the circulating supply is 249.90 million. The volume to market cap ratio is 0.0615, whereas it stands at 310 per the market cap in the global crypto market.
Summary
The BONE token delivers bearish waves and has slipped below the key moving averages, implying a downtrend. Moreover, the price action indicating the selloff and the token may continue to drain gains and will retest the support zone of $0.6500 soon.
Technical Levels
Support Levels: $0.7150 and $0.7000
Resistance Levels: $0.7300 and $0.7500
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
