The cryptocurrency market is showing positive dynamics, particularly evident with Bitcoin and Ethereum. These digital currencies are demonstrating significant growth and attracting attention to lesser-known altcoins.
Market Surge in Cryptocurrencies
Recent data shows that Bitcoin (BTC) has crossed the $103,000 mark, while Ethereum (ETH) has surged over 63% in the last 30 days, reaching levels above $2,450. This bullish trend is also benefiting altcoins, notably the DeSci token.
Harmonic Models and Bio Protocol
The Bio Protocol (BIO) token is currently up over 56% for the month and trading near $0.086. Technical analysis reveals that a **Bearish Crab** pattern is forming on the daily chart, indicating potential reversal zones when the final leg (CD) completes.
Prospects for Bio Protocol
If the pattern plays out as anticipated, BIO could surge to around $0.1465, indicating potential growth of 68% from its current price. However, such price levels often attract selling pressure, requiring traders to remain vigilant for potential reversals.
Overall, harmonic patterns suggest a potential short-term increase for Bio Protocol, although profit expectations may trigger reverse movements at critical levels.
