Bio Protocol (BIO) Soars 131%, May Retrace to $0.15–$0.18
Bio Protocol (BIO) surged 131% over the past week, breaking through key resistance levels but facing rejection at $0.268. Despite a 14.2% gain in the last 24 hours, traders anticipate a pullback to the $0.151–$0.175 support zone, as the RSI enters overbought territory and historical patterns suggest retracements when RSI exceeds 80. On the 4-hour chart, Fibonacci retracement levels at 61.8% ($0.176) and 78.6% ($0.151) could act as entry points. A CoinGlass liquidation heatmap highlights short-term liquidity clusters at $0.21–$0.216 and $0.255, with a denser “magnetic zone” around $0.18. A Bitcoin (BTC) correction below $115,000 may trigger further downside for BIO, while a BTC rally could reinforce market-wide bullish sentiment. Additionally, Bio Protocol has agreed to preliminary terms to fund an expanded human clinical trial on brain health supplements. Traders should watch these technical levels and BTC’s trend for sudden pivots.
Bullish
The article highlights Bio Protocol’s strong 131% rally, underpinned by elevated trading volume and a bullish on‐balance volume trend. Although the RSI signals overbought conditions and a short-term pullback is likely, the failure to sustain $0.268 resistance mirrors past patterns where retracements paved the way for renewed bullish momentum. Key Fibonacci levels at $0.176 and $0.151 offer strategic entry points, while liquidation heatmap clusters identify near-term targets. Moreover, BTC’s directional bias remains crucial: a continued Bitcoin uptrend historically amplifies altcoin rallies, suggesting that BIO’s dip presents a buying opportunity. This blend of technical support zones and broader market correlation points to a fundamentally bullish outlook for BIO over both short and long horizons.