BIO price forms a golden cross – Could it reach $0.30 as whales keep buying?
BIO price appears ready to confirm a golden cross as whales continue accumulating the token. The question now is whether it can push toward $0.30 in the coming weeks.
Overview
Bio Protocol has surged more than 80% in the past week, hitting a six-month high today. Strong interest from whales and notable public figures has continued, supporting the token’s upward trajectory. Technical indicators suggest bullish momentum, with a golden cross forming on the daily chart.
According to crypto.news, BIO has risen over 80% in the last seven days, trading around $0.186—the highest since early this year. Monthly gains currently sit at 175%, while year-to-date growth exceeds 340%.
Whale Accumulation Driving Momentum
Data from blockchain analytics platform Nansen shows whale wallets now hold 21.94 million BIO, up from 18.72 million a week ago and dramatically higher than 2.03 million just a month ago. Heavy accumulation by whales often signals confidence in the token and tends to attract retail investors, reinforcing price growth. Similarly, public figures have increased their holdings to 7.66 million BIO, compared with roughly 3,900 tokens last week.
Exchange Balances Decline
The amount of BIO held on exchanges has dropped 11.6%, from 471 million on August 15 to about 414 million at the time of writing. A decline in exchange balances often indicates that investors are moving tokens into personal wallets, reducing available supply and potentially easing selling pressure, which could support further price appreciation.
New Developments Boosting Demand
A fresh catalyst for BIO is the launch of Bio Protocol’s first BioAgent, Aubrai, on August 21. This marks a step toward linking BIO’s utility to real biotech applications, increasing demand for the token.
Technical Analysis
BIO had been trading within a $0.040–$0.100 range since March before breaking out in August, following a double-bottom pattern on the daily chart—a formation often associated with trend reversals. The breakout has been reinforced by a golden cross, with the 50-day moving average crossing above the 200-day moving average, signaling strong bullish momentum.
Indicators like the MACD and RSI also support the uptrend. From a technical standpoint, the next key target appears near $0.30, aligning with the 1.618 Fibonacci extension. Achieving this level would represent an additional 67% increase from current prices.
On the flip side, if bullish momentum fades and the price falls below $0.10, roughly the 38.2% Fibonacci retracement, it would invalidate the current bullish setup and point to a deeper correction.
