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Shiba Inu's BONE Price Presents This Recovery Scenario, Here's What It Is

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Shiba Inu's BONE Price Presents This Recovery Scenario, Here's What It Is
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Shiba Inu's BONE price recovery hinges on this crucial factor $BONE BoneArmy ShibArmy

Since the start of 2023, BONE's price has steadily risen before topping out at $2.10 on Feb. 24. Following declines in the past week, BONE retreated to trade under the daily MA 50, a level that hindered its price for months from September to December 2022.

Thus, the first recovery scenario might be for BONE to flip the MA 50 level at $1.56 into support once more. BONE must maintain a sustained breach of this key level to trend higher. Since March 5, BONE is making its second attempt to breach the $1.56 level. The daily RSI is slightly below the neutral 50-level, which suggests that the BONE price might consolidate for a while before the next major move.

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