BIO rebounds 350% amid whale buying and volume surge | Credit: Hameem Sarwar
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Key Takeaways
BIO has surged 350% from its April all-time low, breaking above resistance.
Whale accumulation has increased, with holders increasing balances to 1.23 billion.
Technical signals strengthen the outlook, as a golden cross formed on the daily chart.
BIO, the native token of the Decentralized Science (DeSci) project Bio Protocol, has staged a massive rebound. As of this writing, BIO’s price has soared 350% from its all-time low.
The token slipped to $0.041 in April, but its fortunes have reversed since then, with BIO’s price trading at $0.19.
In this analysis, CCN reveals the factors behind BIO’s surge and discusses what could happen to the cryptocurrency’s price.
Bio Protocol Recovers from Rock Bottom
On the 4-hour chart, the Bio Protocol price previously traded within a descending triangle, finding support at $0.16. However, the token has now broken above the resistance trendline.
A closer look at the chart shows that the Money Flow Index (MFI) has climbed to 46.98.
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While this is still below the overbought threshold of 70, it reflects rising buying pressure and improving capital inflows into BIO. An MFI in this mid-range signals that a rally still has room to run before hitting overheated levels.
If the MFI continues to rise, BIO Protocol’s price could challenge the resistance at $0.25. Sustained inflows would likely provide the momentum needed to test this level and possibly extend the rally.
However, the outlook isn’t entirely bullish. The MACD has formed a bearish crossover, signaling weakening momentum and raising the risk of a pullback.
If this bearish signal continues, BIO’s price could struggle to clear resistance and retreat toward lower support levels.
Whale Accumulation, Rising Volume
However, it does not appear that Bio Protocol’s price will fall below its horizontal support anytime soon.
On-chain data shows growing confidence among large holders. A few days ago, wallets holding between 100 million and 1 billion BIO collectively owned 1.1 billion tokens.
As of now, that figure has climbed to 1.23 billion, highlighting a clear accumulation trend. This increase in whale holdings provides a firm cushion for BIO’s price and reinforces the likelihood of support holding firm.
Besides that, BIO’s trading volume has skyrocketed to $810 million. Such a rise in volume confirms strong investor interest and adds weight to the recent price breakout, increasing the chances that momentum could extend in the short term.
BIO Price Prediction: Higher Highs
The Exponential Moving Averages (EMA) on the daily chart have formed a golden cross, a bullish signal.
This occurred as the 20 EMA (blue) crossed above the 50 EMA (yellow), indicating that short-term momentum is now outpacing longer-term trends and potentially setting the stage for further upside in BIO’s price.
Bio Protocol could break through the $0.27 resistance if the trend holds. A successful move above this level might open the door for a rally toward $0.32.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
