Biconomy Price Prediction: 2024, 2025, 2030

BICO price prediction: Key highlights

1. Primary support and resistance levels

• In the weekly chart, the lowest support level was revealed to be at $0.21.
• Consecutively, the highest resistance level can be estimated at around the $1.88 mark.

2. Market sentiment

• The overall market sentiment is seen to be bullish in April 2024.

3. Predictive forecasts

• Our AI/ML models have predicted the average value of BICO to touch $70.46 by 2029 and $669.74 by 2032.

Given below is a comprehensive weekly technical analysis of BICO, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models:

BICO technical analysis: Will the bulls rally amidst a pullback?

In the past year, the journey of Biconomy (BICO) has seen a mix of highs and lows. The Biconomy price prediction for 2024 could not ignore these movements as they are critical to understanding the possible future trends of this digital asset.

At the beginning of our analysis period in April 2023, BICO faced resistance at approximately $0.43, indicating that sellers were dominating the market. This barrier caused the price to decline, reaching as low as $0.28 by the end of May. 

The downward pressure continued into June, dragging the price to its lowest support level of $0.21 early in the month. Attempts by buyers to reverse the downtrend were unsuccessful, and the token's price stayed near this low through the summer, not being able to rally.

The market sentiment shifted in October, signaling a potential bottom had been established. The subsequent recovery was robust, with BICO breaking through the previous resistance at $0.28 by November. 

Following this, it surged past the $0.43 mark by December, indicating a significant change in momentum. The new year brought initial hesitations, with the price retesting the $0.43 level in January. However, the bulls regained control by mid-February, pushing prices up past $0.61.

By March, the upward movement had gathered pace, and BICO's value soared to challenge the $0.94 level, marking the highest point in this timeframe. At the time of writing, BICO had somewhat retreated from these highs and was trading around $0.74. This pullback could be a natural price correction following a strong rally.

BICO’s decentralized Web 3.0 infrastructure and unique offerings led investors to invest in this token. According to CoinMarketCap, BICO underwent a 12.34% increase in value over the past month alone. If this bullish rally continues even in the face of a pullback, BICO may surge higher to retouch the $1 mark within the next few weeks. 

If the bullish rally successfully maintains momentum, BICO may surge even higher to touch the $1.88 mark in the upcoming months. This level has not been touched since 2022, making it a crucial milestone in BICO’s growth trajectory.

However, if the selling pressure increases in the face of the pullback, BICO may plummet from its overbought state to touch the $0.61 mark within the next few weeks. If the bearish trend gains momentum, BICO may even stoop lower to touch the $0.43 mark in the upcoming months.

Amidst all this, the future trajectory of BICO seems to be positive. Our AL/ML models have made projections for BICO to reach an average value of $70.46 by 2029. With new developmental innovations within the Web 3.0 space, BICO’s value is likely to surge higher. This may lead to BICO’s price surging higher to touch an average value of $669.74 by 2032.

BICO's 2024 roadmap: Key indicators to watch and trade

• At the onset of the analysis period, the trading volume was comparatively low. It failed to gain any significant momentum until the end week of September. Following this, the trading volume recovered, showing a spike in November and December.
• In January 2024, the trading volume waned. However, by March, it managed to recover again. At the time of writing, the trading volume dipped slightly. But, it did not fall to its previous lows.
• The Bollinger Bands started off with a contraction during the onset of the analysis. By June, the Bollinger bands expanded slightly. However, by mid-September, another contraction period began, which lasted until the beginning of January. At press time, the Bollinger Bands were expanded, signifying that the asset was undergoing a period of volatility.
• Until the beginning of October, the price candles remained below the 20-day moving average (MA) line. Post this, the price candles consistently remained above the 20 MA line, indicating a bullish sign. 
• The price candles went above the upper band in December, but a corrective pullback led to the candles falling within the band by January. At the time of writing, the price candles went past the upper band again, which indicated that the asset was in an overbought condition and a corrective pullback may occur soon.
• At the beginning of the analysis, both the MACD line and signal line were below the neutral line. However, the MACD line remained above the signal line for most parts of the chart.
• Both the MACD line and signal line had been on an upward trajectory throughout the analysis. By December, both the lines managed to break past the neutral line. At the time of writing, the MACD line (valued at 0.1163) was above the signal line (valued at 0.0743). This indicated that the asset was in a bullish state.