BONE ShibaSwap Breaks Out of Consolidation, Surging Past Key Resistance Levels as Trading Volume Rises

The governance and gas token of the Shiba Inu ecosystem is gaining momentum, with technical indicators pointing to sustained strength.

BONE ShibaSwap breaks out of consolidation, surging past key resistance levels as trading volume rises. The governance and gas token of the Shiba Inu ecosystem is gaining momentum, with technical indicators on the daily chart of BONE/USDT on TradingView indicating sustained strength.

Bollinger Band Breakout

The Bollinger Bands breakout is a bullish technical signal, especially when the price moves above the upper band, which is currently at 0.1447. This breakout, at a time when the price is already showing strength, can be a strong indicator of the beginning of a new uptrend.

The price is now above the upper band, and the mid-band, which is the 20-day Simple Moving Average, is at 0.2597. The last price is 0.353, which is significantly higher than the MA.

Relative Strength Index

The Relative Strength Index (RSI) is a momentum indicator that ranges from 0 to 100. An RSI above 70 is considered overbought, while an RSI below 30 is considered oversold. The RSI is currently at 68.19, which is approaching overbought levels.

However, the RSI is still in bullish territory, and it is showing no signs of slowing down. The RSI is also rapidly moving above its own SMA, which is another bullish signal.

What to Expect

If BONE can sustain its momentum above the upper Bollinger Band and the RSI continues to rise without becoming excessively overbought, then we could see a test of previous resistance levels.

The next significant resistance area is around 0.60, which was the high from December 2024. A sustained move above 0.60 could open the door for a rally towards the 0.80−0.80−1.00 range.

Given the speed of the recent price increase, a period of consolidation or a minor pullback is a healthy possibility. We could see support emerge around the previous upper Bollinger Band, which is now acting as potential support at 0.37, or the 20-day Simple Moving Average (SMA), which is at approximately 0.2597.

A sharp reversal below the 20-day SMA, together with a decreasing RSI and volume, would be a bearish signal, potentially invalidating the breakout. This scenario is less likely given the current technical picture.

CoinPedia Markets Recognizes BONE

In an X post on Sunday, CoinPedia Markets (@MarketCoinpedia) included BONE in its “Top 10 Altcoins Watchlist for the Next Week,” also noting its price at $0.7324.

While the last price of BONE is currently lower than that, this inclusion by a prominent crypto analysis source spotlights the increasing attention on BONE and the broader Shiba Inu ecosystem.

This external analysis and recognition can attract new investors to the token and contribute to its positive momentum.

BONE Price Action

As of Monday morning (Eastern Time), BONE is trading at $0.3696, showing a 1.51% increase over the past 24 hours and a significant 59.07% surge over the past seven days. This impressive weekly performance showcases the strong interest in the token. The 24-hour trading volume is $9.08 million, highlighting healthy market activity.

BONE’s market capitalization has reached $85.49 million, showing a 2.02% increase, and the circulating supply is 229.92 million BONE, according to the data from CoinMarketCap.

The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.