As the BTC price reclaims the $68,000 mark during the early Asian trading hours, the memecoin market has added 3.68% to its valuation to $57.67 billion. Among the top gainers are DOGE, FLOKI, BOME, and SHIB.
With the rising volatility, will the meme coin category record a price surge similar to the Q1 rally? In this article, we have covered the short-term price analysis of BOOK OF MEME (BOME) Memecoin!
BOME Coin Price On The Verge Of A Major Breakout?
The BOME price has jumped ~16% in the past 24 hours with a trading volume of $328.13 million. Moreover, it has added 56.94% over the past week and 66.59% during the past 30 days. Notably, with a trading price of $0.009971, it has recorded a YTD return of 10X.
The EMA 50/200-day shows a rising bullish pattern in the 1D time frame. This suggests that the BOME crypto price may continue gaining value this week.
The Relative Strength Index (RSI) is on the verge of retesting its overbought range for the second time this week. With a bullish curve in its average trendline, this memecoins hints at a positive outlook during the upcoming weeks.
Will BOME Memecoin Rise Again?
If the bullish momentum sustains, the BOOK OF MEME price will break out of its resistance trendline of the channel pattern and retest the $0.011 level. Maintaining the price above that level could set the stage for it to head toward its upper major resistance level of $0.015.
On the flip side, if a bearish reversal occurs, this memecoin could retest its low of $0.00752. Furthermore, if the bears dominate the crypto space, it could plunge toward its lower support trendline of 0.004210 during the upcoming weeks.
Wondering about the long-term prospects of this Solana-based memecoin? Read our BOOK OF MEME (BOME) Price Prediction 2024 – 2030!
