Market Overview: Biconomy (BICOUSDT) – 24-Hour Summary

• Price surged 0.12x to 0.1262 on 15-minute chart, breaking key resistance before consolidating.
• High volatility seen between 05:00–07:30 ET with sharp swings and diverging volume patterns.
• RSI overbought and RSI divergence noted, suggesting potential near-term reversal risk.
• Bollinger Bands widened significantly after 06:00 ET, showing expanding short-term volatility.
• Final 15-minute close below 0.1238, indicating bearish consolidation and possible short-term pullback.

Biconomy (BICOUSDT) opened at $0.1190 on 2025-08-09 at 12:00 ET and reached an intraday high of $0.1266. The price closed at $0.1238 as of 12:00 ET on 2025-08-10. Total trading volume reached 30.1 million with turnover of $3.29 million.

Structure & Formations

BICOUSDT formed a strong bullish breakout pattern between 06:00–07:30 ET, with a high of $0.1266 and a bearish correction afterward. A key support level appears to be forming at $0.1200, which was retested multiple times after the breakout. A bullish engulfing pattern emerged around 06:45 ET, followed by a doji at 07:15 ET that may signal short-term exhaustion. The price then retested the $0.1225 level with mixed conviction.

Moving Averages

The 15-minute 20-period moving average is 0.1225, and the 50-period MA is 0.1212, with the price currently above both. On the daily chart, the 50-period MA is at $0.1185, the 100-period at $0.1178, and the 200-period at $0.1160. The price remains above the 200-day MA, suggesting the asset remains in a bullish trend on a broader time frame.

MACD & RSI

MACD crossed above zero shortly after 06:00 ET and remained bullish until 08:30 ET, after which it declined sharply. RSI hit 72 at 07:00 ET, entering overbought territory and forming a bearish divergence in the latter half of the day. This divergence suggests a potential short-term reversal could occur.

Bollinger Bands

Bollinger Bands expanded significantly after 06:00 ET, with volatility spiking as price moved between $0.1220–0.1266. The upper band reached $0.1266 at 07:15 ET, and the lower band was at $0.1218. Price closed below the 15-minute midline of $0.1231, indicating bearish momentum in the final hours.

Volume & Turnover

Volume spiked above $1.2 million at 06:45 ET and again at 15:45 ET, confirming the breakout and subsequent retest. However, price failed to close above $0.1247 on the final major volume spike, signaling weak follow-through buying. Notional turnover peaked at $0.22 million at 06:45 ET, but volume declined afterward despite continued price movement.

Fibonacci Retracements

Applying Fibonacci to the 06:45–07:30 ET move from $0.1227–0.1266, the price pulled back to the 61.8% level (~$0.1240) but failed to hold it. On the daily chart, the 61.8% retracement of the 2025-06–2025-08 move remains at $0.1190, which may provide near-term support.

The market appears to be consolidating after a strong short-term rally, with technical indicators suggesting a potential pullback toward key support. BICOUSDT may test $0.1200–0.1220 in the next 24 hours, but upside potential remains if the $0.1250 level is retested and holds. Investors should remain cautious of volatility and monitor for divergence or breakouts.