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Shiba Inu’s BONE ecosystem token may be poised for a notable resurgence, with signs pointing to a potential 160% rise from its current price of $0.77 per token.
The optimism surrounding this projection comes from a pattern seen on BONE’s price chart, where historical data has consistently shown notable growth when the token hovers around the $0.7 mark.
If we look at the historical price chart, the current price level emerges as a significant support level for BONE, a level where it has held firm and bounced consistently in the past. Notably, the last time the token touched this price range, a staggering 160% surge occurred, spanning two months from June to July.
That demonstration was not an isolated event; reflects a similar historical precedent established just a year ago. In November of the previous year, BONE showed a comparable pattern, skyrocketing from its current price level to $1.9 per token.
This demonstrates a recurring trend: whenever this Shiba Inu token has traded at this price in the past, it has consistently witnessed substantial price growth in the following months.
Bullish divergence
Supporting this forecast is the bullish divergence on the Relative Strength Index (RSI) chart, which has been in force consistently for the past two months.
This bullish divergence between the token price and the RSI has previously preceded significant price increases, and it is worth noting that this is the third time such a pattern has occurred on the BONE price chart.
While price history and charts alone are not infallible indicators of future performance, they provide valuable reference points for understanding possible future movements. Given that Shiba Inu’s BONE is targeting 160% growth, traders should certainly pay attention to this compelling pattern.
