The BONE token grew 23% over the last 24 hours to $1.75 at press time, leading the top 100 off the back of this performance.
The chart below shows a price performance in line with Bitcoin – a solid start to 2023 and a reversal of momentum at the beginning of February, followed by a strong bounce leading into a decline from March.
However, while the market leader has stalled out since March 4, trading in a tight range between $21,800 and $22,650, BONE recorded a sharp uptick which began at 21:00 (GMT) on March 7.
The uptrend peaked at $1.8803 by 11:30 on March 8, equating to a 36% trough-to-peak gain. However, the Relative Strength Index (RSI) recorded a sharp downtick in momentum.
Amid a flat market, where buyer weakness summarises current sentiment, it remains to be seen if BONE can build on its recent gains for a push higher.
Year-to-date (YTD) gains, accounting for the current price, come in at 103%. For comparison, Bitcoin’s YTD gains currently run at 34%.
