The Biaoqing price plunged over 15% in the past 24 hours to trade at $0.01637 as of 12:00 a.m. EST.
With this latest drop, the BIAO price is in the red by more than 35% on the weekly timeframe. But it has still surged 154% in the past month.
The Biaoqing Price Is Stuck In A Consolidation Channel
4-hour chart for BIAO/USD (Source: GeckoTerminal)
The Biaoqing price has entered a consolidation phase between $0.01225 and $0.03062 over the past 48 hours. This period of sideways trading could be a build up to a big move.
Should bulls take control of BIAO, the crypto might attempt to flip the $0.03062 resistance level into support. A 4-hour candle close above this threshold could then give the meme coin the technical foundation needed to potentially rise to as high as $0.05045.
On the other hand, bears gaining control of the Biaoqing price might lead to a test of the immediate support at $0.01225. Breaking below this key price point could then expose BIAO to the risk of falling to as low as $0.00499 in the short term.
The Biaoqing Price Still At Risk Of Falling Even More
Technical indicators on BIAO’s 4-hour chart suggest the meme coin’s price might continue to drop in the next 24 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are showing bearish signs.
Firstly, the RSI has fallen below 50 in the last 24 hours. An RSI reading under the 50 benchmark is seen as a sign of bearish strength. As such, it could be easier for sellers to drag the Biaoqing price down in the next 24 hours than it will be for buyers to push it up during the same period.
The RSI line is also sloped negatively. Traders might see this as an indication that bears continue to grow stronger against bulls as well.
Meanwhile, a major bearish technical flag is on the verge of being triggered by the MACD indicator. This is after the gap between the MACD and MACD Signal line has narrowed throughout the past day of trading.
Should the MACD line cross below the MACD Signal line, it could signal that the Biaoqing price has entered a short-term negative cycle.
With BIAO still at risk, traders might turn their attention to WienerAI (WAI) for its AI capabilities and what some analysts see as 10X potential.
The Perfect Tool For Crypto Traders
WienerAI (WAI) might be a meme coin, but it is backed by some powerful AI technology. With the ability to process large amounts of data, WienerAI aims to offer traders a sophisticated tool that can help them navigate the highly-volatile digital asset market.
Its predictive technology has been fine-tuned to identify the next trade opportunity in the crypto space. This gives traders and investors the ability to make more informed decisions when adjusting their portfolios.
To complement the project’s analytical ability, the team is also introducing a seamless swap solution and MEV protection to the WienerAI ecosystem. All of these products combined will ensure that traders quickly identify opportunities in the market and capitalize on them before they disappear. Traders will also never be frontrun by MEV bots again, mitigating the risk of any delays in filling their orders.
Although AI technology has been around for a while, it only recently attracted the public’s attention with the launch of ChatGPT. Given the ongoing hype around this technology and the investor frenzy surrounding meme coins, WienerAI looks nicely positioned to take the crypto market by storm.
Crypto YouTuber ClayBro recently told his 130,000 subscribers that WAI has the potential to surge 10X.
Investors Are Rushing To Buy WAI At This Early Stage
More than $6.9 million has already been sent to WAI’s ICO, with the $7 million mark now in sight. Although WienerAI shows promising signs from a speculative trade standpoint, the 164% APY currently on offer to presale buyers could be another factor that is pulling investors in.
Anyone that purchases and locks up WAI tokens at this early stage will become eligible for the high rewards. Getting started is easy, investors can utilize the simple buy widget embedded on WienerAI’s website to acquire the crypto.
Selling for $0.000724, WAI can be bought using either ETH, USDT, BNB or bank card. Buyers will want to hurry though because the meme coin’s price is scheduled to increase in a little more than a day.
Purchase and stake WAI tokens here for up to 164% in annual rewards.
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