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Will Bone ShibaSwap reach $2 again?

Press Releases Crypto News AMB-Crypto Will Bone ShibaSwap reach $2 again?

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

BONE was bullish on the higher timeframe charts but there was heavy resistance near the $1.9-$2 levels.
The lower timeframe charts showed that a move below $1.6 could see a sizeable retracement.

Bone ShibaSwap [BONE] ranked fourth on the list of meme coins sorted by market cap, according to CoinMarketCap. The token embarked on an impressive rally in June and has not halted yet.

How much are 1,10,100 BONEs worth today?

The price action showed that further gains were possible, but the higher timeframe resistance below the $2 level could slow down the progress of the bulls. What scenarios can BONE swing traders plan for?

A fair value gap at $1.35 could attract BONE southward

Source: BONE/USDT on TradingView

Fair value gaps, or imbalances left during a strong move, were something that BONE has made a habit of going back to fill. The most recent one at $1.135-$1.375 was an imbalance that was not yet filled. The previous gaps, such as the ones left on 3 July or 7 July, have both been filled.

The $1.35 region also coincided with the resistance zone at $1.4 that BONE ran into in the first week of July. Hence, a move lower toward this region could offer a buying opportunity. At the time of writing, the market structure on the 1-day chart was firmly bullish.

The RSI showed strong bullish momentum and the OBV has trended higher since mid-June. This reflected buying pressure that drove prices higher.

The red box from $1.61-$2.1 represented a bearish order block on the weekly chart from February. BONE has already entered this resistance zone. Therefore, if we s

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Author: Akashnath S

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