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BONE Price Analysis for September 16

Sat, 09/16/2023 - 18:00
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Denys Serhiichuk
Has rate of BONE found reversal zone yet?
BONE Price Analysis for September 16
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Bulls are trying to be back in the game again, according to CoinStats.

Top coins by CoinStats


Unlike other coins, the rate of BONE has dropped by 1.52% since yesterday.

Image by TradingView

On the hourly chart, the price of BONE might have found the local support level of $0.7973. If the daily bar closes above the $0.80 area, one can expect an upward move to the $0.82 range tomorrow.

Image by TradingView

On the bigger time frame, the price of BONE is in the middle of a wide channel, getting energy for a sharp move. As neither buyers nor sellers have seized the initiative yet, ongoing consolidation in the range of $0.80-$0.82 is the more likely scenario for the upcoming week.

Image by TradingView

From the midterm point of view, the rate of BONE is far even from a local rise as there are no prerequisites for that. If buyers want to be back in the game, they need to fix the price above the nearest resistance of $0.9111. 

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However, it might take a few weeks for that to happen.

BONE is trading at $0.8084 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at