Date: Fri, May 23, 2025 | 08:45 AM GMT
The cryptocurrency market has mounted a solid comeback in recent weeks from its bearish Q1. Bitcoin (BTC) has managed to melt faces with its new all-time high of $111,970, while the impressive 48% monthly jump of Ethereum (ETH) is uplifting sentiment across altcoins — including Bio Protocol (BIO).
The DeSci token has surged over 22% in the last month, and the chart suggest it might not be done yet. Technical analysis points to a potential breakout forming on the horizon.
A Classic Bullish Pattern: Cup and Handle
On the daily chart, BIO is forming a textbook Cup and Handle pattern — a bullish continuation structure often seen ahead of explosive breakouts.
The “cup” took shape between late March and early May, starting from a steep drop from around $0.1055 and forming a rounded base near $0.040.
The “handle” formed with a healthy pullback to around $0.070, followed by a quick bounce, showing buyer interest at higher lows.
As of now, BIO is trading at $0.099 and pressing up against its key neckline resistance in the $0.10–$0.11 zone, a level it has struggled to breach on multiple occasions.
What Happens If BIO Breaks Out?
A decisive breakout above the $0.10–$0.11 range, especially with a confirmation retest, would validate the Cup and Handle pattern. This could potentially unlock a powerful rally.
If confirmed, the measured move from the pattern suggests a price target in the $0.16–$0.17 range, which implies a 73% potential upside from current levels.
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