Bone Teeters on the Brink of a Monster Rally—Just When Everyone Wrote It Off
After months of grinding near lows, Bone’s chart is printing the kind of setup that makes degens lick their lips. The token—left for dead by ’serious investors’ chasing the next shiny thing—now coils like a spring.
Technical breakout or trap? The 4-hour chart doesn’t lie. That ascending triangle isn’t just textbook—it’s screaming for a volume surge to confirm the uptrend. Meme magic or not, liquidity hunters are circling.
Of course, Wall Street’s crypto tourists will only notice once it’s halfway to the moon. By then, the usual suspects will be pitching it as ’the new institutional darling’—right after they finish dumping their bags.
Chart Pattern Suggests Bone Price Coiling for Move
The chart accompanying the analyst’s commentary displays BONE’s price action forming what appears to be a descending triangle or falling wedge. This pattern is characterized by a series of lower highs pressing down against a relatively stable horizontal support level.
As these two lines converge, the price becomes increasingly compressed, often preceding a sharp move, or breakout, in either direction. Army_shiba’s assertion that “these kind of patterns usually ends up with a huge breakout” implies an expectation that the Bone Price will break upwards from this consolidation.
Adding weight to the potential for a significant MOVE is a notable uptick in trading activity. BONE’s 24-hour trading volume recently surged by approximately 29.38% to $7.32 million.
Such increases in volume during a consolidation phase can sometimes signal growing accumulation or interest ahead of a breakout. Further reflecting a positive sentiment, data from CoinMarketCap indicates that 85% of community votes express a bullish outlook for the Bone Price.
Interpreting the Bone Signals: What to Watch
While army_shiba expresses confidence, stating, “I’m closely watching the movements,” it’s important to approach such technical signals with context. Chart patterns offer insights into potential future price action based on historical tendencies, but they are not foolproof predictors.
The broader crypto market conditions and specific news related to the Shiba Inu ecosystem or BONE itself can also heavily influence its trajectory.
Investors and traders will likely be monitoring the Bone Price for a decisive break above the pattern’s descending resistance line. A sustained move above this level, particularly if accompanied by continued strong volume, WOULD be viewed by many technical analysts as confirmation of a bullish breakout, lending credence to the optimistic outlook.
Conversely, a break below the horizontal support could invalidate the immediate bullish scenario.
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Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. 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.
