• The BONE token price chart has experienced a breakdown due to ongoing selling pressure.
• The token has fallen below the important $1 mark, signaling a sell-off.

The Bone token has faced significant challenges recently, leading to a bearish trend in its price. After being rejected at $1.80 in the first trading session of the month, sellers continued to push the token down throughout the month. This bearish trend has resulted in a correction of over 54% in the price of the token.

Currently, the Bone token (BONE) is trading at $0.7215, with an 8.12% intraday drop, indicating a bearish trend. The monthly return ratio is -15.20%, while the yearly return ratio is -33.16%. The BONE/BTC pair is at 0.0000110 BTC, with a market cap of $180.03 million. Analysts predict that the BONE price will continue to decline and may reach the $0.5000 demand zone soon.

BONE Price To Volume Analysis Over Daily Charts

The chart shows a decline in the token price, with lower lows observed. The token has broken below the key 200-day EMA support level and the $1 mark in recent sessions. Despite initial gains, the token struggled to maintain its price, leading to ongoing selling pressure. The intraday trading volume has increased by 7.27% to $11.13 million.

Price Volatility and Weighted Sentiment Overview

The price volatility remained low, staying below the midline near 0.022, while the weighted sentiment remained positive, around 0.278.

Social Dominance & X Followers Outlook

During the price decline, social dominance data remained stable at around 0.066%, indicating neutrality. However, the X followers data decreased by 126% to 8564, showing a negative sentiment.

Active Addresses and Amount of Holders Overview

Active addresses have slowly declined to 2458, while the total number of holders has increased steadily to around 95.2k.

The BONE token price has dropped below the 23.6% Fib level, indicating a significant fall. The RSI curve is in the oversold region, showing a bearish trend.

The total supply of the BONE token is 250 million, with a circulating supply of 249.90 million. The volume to market cap ratio is 0.0615, compared to the global crypto market cap of 310.

Summary

The BONE token is experiencing a bearish trend, falling below key moving averages and suggesting a downtrend. The price action indicates continued selling pressure, with possible support at $0.6500.

Technical Levels

Support Levels: $0.7150 and $0.7000

Resistance Levels: $0.7300 and $0.7500

Disclaimer

The information provided in this article is for informational purposes only and should not be considered financial or investment advice.