This Memecoin Going Aganist the Trend-Will BOOK OF MEME (BOME) Price Dominate the Markets?
The post This Memecoin Going Aganist the Trend-Will BOOK OF MEME (BOME) Price Dominate the Markets? appeared first on Coinpedia Fintech News
The crypto markets are undergoing a roller coaster ride as the prices of the tokens have been experiencing acute volatility. Just a day before, Bitcoin was expected to hit $70,000 but the dynamics have changed as upward pressure has escalated. Besides, the memecoins have also fallen into a bearish trap but this popular Solana-based token, BOOK OF MEME (BOME), displays immense strength. Here’s what to expect from the BOME price rally during the month-end.
The BOME price has triggered a healthy rebound from the lower crucial support zone after consolidating for more than 6 weeks. However, the flip above the selling pressure has yet to validate the start of a bullish trend as the token continues to trade within a bearish range. Now that market volatility has increased, the possibility of a positive upswing remains intact.
Will the BOME price trigger another 20% rise to initiate an upswing to reach $0.0126?
The BOME price began to trade with a blast as the prices soared heavily at the lauch. Unfortunately, the bears became extremely active causing massive loss which continues to prevail until now. However, the bulls have managed to trigger a rebound with a slight change in the market sentiments in the past couple of days. Hence, the price is believed to maintain a healthy upswing in the next couple of days but reaching the upper target at $0.0126 could be a tedious job.
Although the price has been trading within a descending triangle, the MACD is displaying a rise in buying volume. Meanwhile, the RSI continues to remain elevated and is about to hit the upper threshold. If the bulls display strength as they test the upper resistance, then it may breach the pattern and reach $0.012 initially. Otherwise, the BOOK OF MEME price is believed to remain consolidated within the pattern and reach the apex. Hence, the upcoming monthly close is very important for the rally.