Market Overview: Biconomy (BICOUSDT) 24-Hour Review

• Biconomy (BICOUSDT) posted a 24-hour high of $0.116, but closed at $0.106 after a sharp sell-off in the 19:45–20:00 ET window.
• A bearish engulfing pattern formed around $0.1157, signaling short-term bearish momentum.
• Volume surged to 1.18 million during the sell-off, but dropped sharply afterward, indicating waning conviction.
• Relative Strength Index (RSI) dipped below 30, suggesting BICO may be oversold but lacks immediate bullish confirmation.
• Price remains above key support at $0.105, but volatility remains elevated, with wide Bollinger Band expansion.

Biconomy (BICOUSDT) opened at $0.1105 on 2025-08-24 at 12:00 ET, reached a high of $0.116, and closed at $0.106 as of 2025-08-25 12:00 ET. Total trading volume over the 24-hour period was approximately 3,281,963 units, with notional turnover amounting to $344,445.

Structure & Formations

The price action showed a clear bearish bias following the 19:45–20:00 ET candle, which closed at $0.1136 after opening at $0.1157, forming a bearish engulfing pattern. This suggests a shift in sentiment. The low at $0.1053 on 2025-08-25 07:00 ET may act as short-term support, with potential for a bounce if volume picks up. A doji formed at 04:45 ET, signaling indecision and a possible pause in the downward trend.

Moving Averages

On the 15-minute chart, the 20-period and 50-period SMAs were both bearish, with price closing below both indicators at the end of the period. This reinforces the short-term downward trend. On the daily chart, the 50-period SMA is currently above the 100-period and 200-period SMAs, indicating medium-term bearish momentum.

MACD & RSI

The MACD turned negative and crossed below the signal line during the sell-off, confirming bearish momentum. RSI dropped below 30 during the session, indicating oversold conditions, although it has not yet shown a bullish divergence. This suggests that while BICO may be due for a short-term rebound, it lacks strong buying pressure for a sustained move higher.

Bollinger Bands

Bollinger Bands expanded significantly during the sell-off, with price dropping to the lower band at $0.1053. Volatility remains elevated, and the bands have not yet contracted, indicating ongoing uncertainty. Price has remained within the bands, though the lower band has become a key support level.

Volume & Turnover

Volume surged to 1,175,136 units during the 19:45–20:00 ET period, coinciding with a sharp price drop. However, volume has declined sharply afterward, indicating a lack of follow-through. Turnover also spiked during the sell-off but has since softened. The lack of volume confirmation on higher timeframes suggests the downtrend may struggle to continue without renewed bearish conviction.

Fibonacci Retracements

The recent 15-minute swing from $0.116 to $0.105 aligns with key Fibonacci levels at 61.8% ($0.107) and 38.2% ($0.1116). Price currently sits near the 38.2% retracement level, where it may find some buyers. On the daily chart, Fibonacci levels from the previous month’s high suggest key support near $0.103 and $0.099.

BICOUSDT may see a short-term bounce from current support levels, but a sustained recovery will depend on rising volume and a bullish breakout above $0.1115. Investors should remain cautious, as volatility remains high and a further pullback below $0.105 could reignite selling pressure.