BONE Price Analysis for September 16

Bulls are trying to be back in the game again, according to CoinStats.

BONE/USD

Unlike other coins, the rate of BONE has dropped by 1.52% since yesterday.

On the hourly chart, the price of BONE might have found the local support level of $0.7973. If the daily bar closes above the $0.80 area, one can expect an upward move to the $0.82 range tomorrow.

On the bigger time frame, the price of BONE is in the middle of a wide channel, getting energy for a sharp move. As neither buyers nor sellers have seized the initiative yet, ongoing consolidation in the range of $0.80-$0.82 is the more likely scenario for the upcoming week.

From the midterm point of view, the rate of BONE is far even from a local rise as there are no prerequisites for that. If buyers want to be back in the game, they need to fix the price above the nearest resistance of $0.9111.

However, it might take a few weeks for that to happen.

BONE is trading at $0.8084 at press time.

Source