$BIO is trading quietly around $0.047, holding above its key long term support near $0.0457. Price is stuck between short term resistance and strong support, showing consolidation rather than a clear trend. RSI is neutral and MACD is still slightly bearish, which means the market is waiting for a trigger before making the next move.
On the derivatives side, a potential bottom is forming. The Long/Short ratio jumped 47%, mainly because short sellers are closing positions, not because new longs are rushing in. Many short whales took profit and exited, while long traders who are still in loss are holding their positions. This behavior often appears near local bottoms and increases the chance of a short squeeze if price starts moving up.
Looking ahead, $0.0481 is the key resistance to watch. A clean break above it could push BIO toward the $0.053 zone. On the downside, a drop below $0.0457 may trigger liquidations due to crowded margin longs and daily token unlock pressure. For now, BIO looks stable, with short term volatility likely before the next clear direction forms.
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