Bullish BONE price prediction 2023 is $2.4416 to $4.5413.
Bone Shibaswap (BONE) price might also reach $5 soon.
Bearish BONE price prediction for 2023 is $0.5977.
In Bone Shibaswap (BONE) price prediction 2023, we use statistics, price patterns, RSI, RVOL, and other information about BONE to analyze the future movement of the cryptocurrency.
Bone Shibaswap (BONE) Current Market Status
Current Price
$1.29
24 – Hour Trading Volume
$9,920,867
24 – Hour Price Change
1.99% high
Circulating Supply
229,923,351
All – Time High
$15.50 (on Jul 07, 2021)
BONE Current Market Status (Source: CoinGecko)
What is Bone Shibaswap (BONE)?
BONE is a utility enabled, that allows users to vote on important proposals on the protocol. It can also be stored offline in hardware wallets, such as Ledger and Trezor, to ensure maximum safety. BONE will be used to pay fees on Shibarium. It is one of the flagship tokens for ShibSwap, a decentralized ecosystem associated with the Shiba Inu community.
Bone Shibaswap (BONE) Price Prediction 2023
Bone Shibaswap (BONE) ranks 101st on CoinMarketCap in terms of its market capitalization. The overview of the Bone Shibaswap price prediction for 2023 is explained below with a daily time frame.
BONE/USDT Ascending Channel Pattern (Source: Tradingview)
In the above chart, Bone Shibaswap (BONE) laid out an ascending channel pattern. Ascending channel pattern, also known as the rising channel. The upper and lower trend lines that connect the higher highs and higher lows respectively appear to move within a rising slope. This pattern is generally a characteristic of a bullish trend.
At the time of analysis, the price of Bone Shibaswap (BONE) was recorded at $1.28. If the pattern trend continues, the price of BONE might reach the resistance levels of $1.4799 and $2.0603. If the trend reverses, then the price of BONE may fall to the support of $0.8507.
Bone Shibaswap (BONE) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of Bone Shibaswap (BONE) in 2023.
BONE /USDT Support and Resistance Levels (Source: Tradingview)
From the above chart, we can analyze and identify the following as the resistance and support levels of Bone Shibaswap (BONE) for 2023.
Resistance Level 1
$2.0316
Resistance Level 2
$3.7318
Support Level 1
$1.0115
Support Level 2
$0.6032
BONE Resistance & Support Level
As per the above analysis, if Bone Shibaswap’s (BONE) bulls take the lead, it might hit and break through its resistance level of $3.7318.
Conversely, if Bone Shibaswap’s (BONE) bears dominate the trend, the price of BONE might plunge to $0.6032.
Bone Shibaswap (BONE) Price Prediction 2023 — RVOL, MA, and RSI
The Relative Volume (RVOL) of Bone Shibaswap is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of BONE lies below the cutoff line, indicating weak participants in the current trend.
BONE /USDT RVOL, MA, RSI (Source: Tradingview)
The technical analysis indicator Relative Volume (RVOL) is used to measure the trading volume of an asset in relation to its recent average volumes. It is typically calculated by dividing the current day’s trading volume by the average volume over a specified period, such as the past 20 or 50 trading days. The resulting ratio is known as the “relative volume,” which can help traders identify unusual trading activity and changes in market sentiment.
High relative volume readings suggest that there is increased interest in the asset, which may indicate a potential trend reversal or breakout. Conversely, low relative volume readings may indicate a lack of interest or a consolidation period.
At the time of analysis, the RVOL of Bone Shibaswap (BONE) was below the cutoff line, denoting weak participants trading in the current trend.
The next technical indicator is the Moving Average (MA). This momentum indicator is used to smooth out price data and identify trends in the market. It helps in calculating the average price of an asset over a specific period. Particularly, the 50-day moving average (50 MA) evaluates the average closing price of the asset over the past 50 days. When the price of an asset is above its 50MA, it is considered to be in an uptrend (bullish), if laid below 50MA, it is in a downtrend (bearish).
Notably, in the above chart, the BONE price lies above 50 MA (short-term), indicating its upward. Hence, it can be concluded that BONE is in a bullish state. Although this is the current state, a trend reversal might occur.
Next up is the Relative Strength Index (RSI). This analysis indicator helps traders to determine the strength and momentum of an asset’s price movement over a specific period. In this analysis, the RSI is calculated by comparing the average gains and losses of the asset over the past 14 periods. The resulting value is expressed as a number between 0 and 100, with readings above 70 indicating an overbought state and readings below 30 indicating an oversold state.
Significantly, traders often use the RSI to identify potential trend reversals or to confirm the direction of a trend. For instance, if an asset is in an uptrend and the RSI reaches an overbought reading of 70, it may suggest that the asset is due for a pullback or correction. Conversely, if an asset is in a downtrend and the RSI reaches an oversold reading of 30, it may suggest that the asset could potentially reverse direction.
Markedly, during analysis, the RSI of BONE is at 67.97. This denotes that BONE is nearly in an overbought state.
Bone Shibaswap (BONE) Price Prediction 2023 — ADX, RVI
In the below chart, we analyze the strength and volatility of Bone Shibaswap (BONE) using the following technical analysis indicators – Average Directional Index (ADX) and Relative Volatility Index (RVI).
BONE /USDT ADX, RVI (Source: Tradingview)
To analyze the strength of the trend momentum, let us take note of the Average Directional Index (ADX). The ADX value is derived from the two directional movement indicators (DMI) such as +DI and -DI and is expressed between 0 to 100.
According to the data on the above chart, the ADX of BONE lies in the range of 58.0181 pointing out an extremely strong trend.
The above chart also displays another technical indicator – the Relative Volatility Index (RVI). This indicator measures the volatility of an asset’s price movement over a specific period. With respect to the chart’s data, the RVI of BONE lies above 50, indicating high volatility.
Comparison of BONE with BTC, ETH
Let us now compare the price movements of Bone Shibaswap (BONE) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs BONE Price Comparison (Source: Tradingview)
From the above chart, we can interpret that the price action of BONE is similar to BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of BONE also increases or decreases respectively.
Bone Shibaswap (BONE) Price Prediction 2024-2030
With the help of the aforementioned technical analysis indicators and trend patterns, Let us predict the price of Bone Shibaswap (BONE) between 2024 and 2030.
Bone Shibaswap (BONE) Price Prediction 2024
If bulls dominate the price momentum and trend patterns, then Bone Shibaswap (BONE) might successfully test and surpass its resistance levels to hit $6 by 2024.
Bone Shibaswap (BONE) Price Prediction 2025
The significant upgrades in the Bone Shibaswapecosystem might persuade the entry of an increased number of investors. This may eventually boost the Bone Shibaswap (BONE) price to reach $7 by 2025.
Bone Shibaswap (BONE) Price Prediction 2026
If Bone Shibaswap (BONE) successfully tests its major resistance levels and continues to move upside, then it would rally to hit $8.
Bone Shibaswap (BONE) Price Prediction 2027
Bone Shibaswap (BONE) might sustain major resistance levels and continue to be recognized as a good investment option. If it stands so in the market, BONE would rally to hit $9.
Bone Shibaswap (BONE) Price Prediction 2028
If Bone Shibaswap (BONE) holds a positive market sentiment amid the highly-volatile crypto market by driving significant price rallies, BONE would hit $10 by 2028.
Bone Shibaswap (BONE) Price Prediction 2029
If investors flock in and continue to place their bets on Bone Shibaswap (BONE) , then the crypto would witness major spikes. Hence, BONE might hit $11 by 2029.
Bone Shibaswap (BONE) Price Prediction 2030
If the trend momentum aligns in favor of Bone Shibaswap, then the BONE price is expected to rally to $12 by 2023. Furthermore, BONE would hold a positive market sentiment and be recognized as a long-term investment with highly profitable ROI.
Conclusion
If Bone Shibaswap (BONE) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish Bone Shibaswap (BONE) price prediction for 2023 is $3.7318. Relatively, the bearish Bone Shibaswap (BONE) price prediction for 2023 is $0.6032.
If there is a positive elevation in the market momentum and investors’ sentiment, Bone Shibaswap (BONE) might hit $5. With future upgrades and advancements in the Bone Shibaswap ecosystem, BONE might surpass its current all-time high (ATH) of $41.67 on September 14, 2021 and mark its new ATH.
FAQ
1. What is Bone Shibaswap (BONE) ?
The Bone Shibaswap (BONE) token is the native cryptocurrency of the Bone Shibaswap network, a Web3 infrastructure platform that enables users to build and control their own nodes that they can utilize for various Proof-of-Stake blockchain.
2. Where can you buy Bone Shibaswap (BONE) ?
Traders can trade Bone Shibaswap (BONE) on the following cryptocurrency exchanges such as LBank, OKX, Deepcoin, Bitget, and CoinW.
3. Will Bone Shibaswap (BONE) record a new ATH soon?
With the ongoing developments and upgrades within the Bone Shibaswap platform, Bone Shibaswap (BONE) has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of Bone Shibaswap (BONE)?
Bone Shibaswap (BONE) hit its current all-time high (ATH) of $41.67 On Sept 14, 2021
5. What is the lowest price of Bone Shibaswap (BONE)?
According to CoinMarketCap, BONE hit its all-time low (ATL) of $0.2899 on May 12, 2022.
6. Will Bone Shibaswap (BONE) hit $5?
If Bone Shibaswap (BONE) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $5 soon.
7. What will be the Bone Shibaswap (BONE) price by 2024?
Bone Shibaswap (BONE) price might reach $6 by 2024.
8. What will be the Bone Shibaswap (BONE) price by 2025?
Bone Shibaswap (BONE) price might reach $7 by 2025.
9. What will be the Bone Shibaswap (BONE) price by 2026?
Bone Shibaswap (BONE) price might reach $8 by 2026.
10. What will be the Bone Shibaswap (BONE) price by 2027?
Bone Shibaswap (BONE) price might reach $9 by 2027.
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Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.