Market Overview: Bio Protocol (BIOSDT) 24-Hour Price Action and Technical Signals

• Bio Protocol (BIOSDT) opened at $0.0714 and closed at $0.0696, showing a bearish bias amid moderate volume.
• A sharp selloff began at 04:30 ET, breaking below key support levels and confirming bearish momentum.
• Volatility expanded significantly during the selloff, with price falling nearly 3% in under 4 hours.
• RSI hit oversold territory late in the session, suggesting potential near-term reversal or consolidation.
• The 20-period MA on the 15-min chart acted as dynamic resistance during the afternoon rebound.

Market Overview

Bio Protocol (BIOSDT) opened at $0.0714 on July 30 at 12:00 ET and closed at $0.0696 on July 31 at 12:00 ET, with a high of $0.0714 and a low of $0.0634. The 24-hour notional volume was approximately $213.4 million, with total turnover reaching $14.6 million.

The price action revealed a strong bearish bias, particularly after a sharp selloff began around 04:30 ET, where volume spiked to over $10.8 million on a single 15-minute bar. This triggered a rapid decline from $0.0683 to $0.0653 in under an hour, breaking below key support levels.

Structure & Formations

Key support levels were identified at $0.0680 and $0.0670, both of which were decisively broken during the selloff. A bearish engulfing pattern formed at the top of the early morning range, confirming the shift in sentiment. Later in the session, a potential bullish reversal was suggested by a doji near $0.0634, but it lacked sufficient follow-through to confirm a reversal.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart acted as resistance during the afternoon rebound, with price failing to close above the 20 MA. On the daily chart, the 50-period MA was breached during the selloff, reinforcing a bearish bias for the longer term.

MACD & RSI

The MACD turned negative during the selloff and remained in bearish territory for most of the session. RSI dipped into oversold territory in the final hours, suggesting short-term exhaustion. However, without a strong bounce above the 50-line, the bearish trend may persist.

Bollinger Bands

Volatility expanded sharply during the selloff, with price breaking below the lower Bollinger Band. This suggests increased selling pressure and potential for further consolidation or a rebound.

Volume & Turnover

Volume spiked during the early morning selloff, particularly on the 04:30 ET bar, which saw over $10.8 million in turnover. However, volume declined during the afternoon rebound, indicating weak follow-through. This divergence between price and volume could signal a potential bear trap or consolidation phase.

Fibonacci Retracements

Applying Fibonacci to the key 15-minute swing from $0.0683 to $0.0653, price found temporary support at 38.2% ($0.0672) and 61.8% ($0.0662). These levels may offer short-term support if the price rebounds.

Looking ahead, Bio Protocol may test $0.0640–$0.0630 as the next key support zone, with a potential rebound into $0.0670–$0.0680 if buyers step in. However, traders should remain cautious, as the overall trend appears bearish, and a breakdown below $0.0630 could trigger further downside.