BORA Price Analysis: Will BORA Retest $0.24 Level?


  • BORA/USD is confronted with resistance level of R1 at 0.24 dollars.
  • BORA/USD pair trading below EMA(20).
  • Current BORA Price is 0.21 dollars
  • BORA price flashes signs of bearishness on 7-days price chart.

26 April 2024 : In this article we will walk you through BORA price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for BORA, Is BORA a good investment? BORA support & resistance levels etc. But before diving deep into the BORA technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $2,361,517,901,129. The total trading volume stands at $66,419,069,661. Bitcoin shares 53.38 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $63,973.23 level after a decline of -0.84%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -0.4 percent reaching to $3,153.20 during the previous 24 hours.
While publishing this blog, BNB traded at $604.22, following a price change of -1.81%within the same time frame. SOL the native coin of Solana is down by -2.47 and currently trading at $143.88. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

BORA Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of BORA (BORA)

BORA Resistance Levels BORA Support Levels
Resistance Level 1 $0.24 Support Level 1 $0.20
Resistance Level 2 $0.26 Support Level 2 $0.18
Resistance Level 3 $0.27 Support Level 3 $0.16

BORA Performance

The price of BORA (BORA) is at $0.21, down -3.3% in the past 24-hours and has a price change of -2.84% over the week. One day trading volume for BTC is 5,189,946.00 USD while total marketcap reached $194,007,672.00 USD. There are almost 927,500,000 are in circulation out of 1205750000.

BORA Price Analysis

BORA price analysis for 26 April 2024 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the BORA.

Moving Averages Price Indicator
Simple Moving Average (10) 0.22 Sell
Exponential Moving Average (10) 0.22 Sell
Simple Moving Average (20) 0.23 Sell
Exponential Moving Average (20) 0.23 Sell
Simple Moving Average (50) 0.25 Sell
Exponential Moving Average (50) 0.25 Sell

RSI implying near oversold phase while trading at 38 and is trying to break out of the bearish zone. The MACD line is standing above of the signal line after a positive crossover. BORA investors need to wait for any directional change over the daily chart. The first support level for BORA is at $0.20 while the second one is at $0.18. While taking about resistance the BORA has R1 and R2 at $0.24, $0.26 respectively. While BORA’s Williams %R indicator is at -49.465 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range.

Conclusions

The BORA market is shown signs of being bearish, and sellers have the potential to drive prices of the cryptocurrency lower in the next few days. Alternatively, The price of BORA might try to break above its resistance level of $0.24. For now the coin is showing negative trend.