The BOBO token market is forming a bearish flag pattern and is weakening the support levels established at $0.00000001138. As of now, the bears are in control and prices have declined significantly in the 4-hourchart. The Relative Strength Index (RSI) stands at 38 for the BOBO token, indicating the possibility of more price drops in the near future. The Average Directional Index (ADX) suggests that the trend is still strong and the bears are likely to remain in control. The stochastic RSI indicator, however, is currently at 12, indicating a potential uptrend in the short to medium run. It remains to be seen if the bulls will break above the high of $0.00000001908 and establish an uptrend or the BOBO token price drops further in the near future.
Victoria Lopez
- 2023-05-05
The BOBO Token Market Forms a Bearish Flag
An analysis of the BOBO token market which is forming a bearish flag pattern and weakening support levels established at $0.00000001138. An understanding of the Relative Strength Index, Average Directional Index and stochastic RSI indicator and what they reveal about the near-term future of the BOBO token price.
