- BOB has broken out of a long-term falling wedge, with price currently up 4.3% at $0.4169.
- The token targets a potential 660% upside move toward $0.00003999 if momentum holds.
- Current support is firm at $0.3768, while near-term resistance stands at $0.4281.
BOB’s price structure has entered a new phase after a sustained downtrend. Following a prolonged descending wedge formation, the token has now broken out above the wedge’s upper boundary. The structure, visible on the 1-day chart, highlights a narrowing pattern that developed over multiple months, eventually leading to a breakout with modest follow-through. As of now, price action remains above the breakout point.
The current BOB price is $0.4169, marking a 4.3% increase over the last 24 hours, while support stands at $0.3768. With the breakout intact, the token may be gearing toward its first major price target at $0.00003999.
Descending Wedge Pattern Confirmed Before Breakout
Over the last several months, BOB traded within a clearly defined falling wedge. This pattern was marked by progressively lower highs and lower lows. Volume also decreased steadily over time, further validating the wedge structure.
After touching the wedge’s lower boundary in late trading sessions, the token initiated a sharp upward move. The breakout occurred with a surge in volume, breaching the wedge’s resistance level. The price has since stabilized above the breakout line, maintaining structure as it consolidates gains.
Source:(X)
Upside Target Suggests Over 660% Potential Run
With the breakout holding, chart data now points to a potential move toward $0.00003999. This would represent a gain of over 660% from current levels. The token must first overcome resistance at $0.4281. Notably, this resistance remains in close range, less than 3% above the current price. If this level is cleared, the path to the upside target could open further. The technical formation provides a price expansion setup, should volume continue to increase.
Support Holds Amid Stable Volume
As of now, BOB’s immediate support lies at $0.3768. This level has remained intact despite several retests post-breakout. The up and down movement on the price is also in the narrow range upward that is between 0.3768 and 0.4281. Also, there are no significant spikes on trading activity and decreases.
The setup remains dependent on sustained support holding while resistance levels are gradually approached. Continued volume will be critical in determining short-term price direction.
