Memecoins
BOME and Meme Coin Offer Reverse Entry with Breakout Chances
As overall market conditions are more volatile than ever, the bullish trend of meme coins is taking a hit. However, low-cap meme coins like BOME and MEME show a possibility of recovery from crucial support.
With the rally momentum and breakout chances, will these even low-cap meme coins lead to a bull run next week?
BOME reversal to $0.00882
With a morning star pattern at $0.0082, the BOME price trend presents a positive cycle chance in the daily chart. The Book of MEME coin showed a 5.42% price rise last night at the crucial support level.
Additionally, the daily BOME price chart shows a downward trend, forming a resistance trendline. This bearish phase forms a descending triangle pattern, keeping the bullish growth in check.
Currently, the meme coin is trading at a price of $0.0087 with an intraday decline of 1.55%, reflecting intraday weakness. However, the daily RSI line shows bullish divergence during the recent declines at $0.0082.
With some optimism, a reversal rally can reach the overhead resistance trendline by surpassing the $0.010 mark. A trendline breakout rally can reach the $0.0188 mark.
MEME Coin Price Breakout Rally Eyes $0.025
With a downtrend in motion, MEME coin price action is showing a falling wedge in the daily chart. The falling wedge trend is observed in several altcoins under current market conditions, suggesting a pullback phase. However, the recent overnight jump hints at a positive cycle within the trend.
Currently, MEME price is trading at $0.01943 with an intraday decline of 1.86%, following last night’s 7.58% jump. The overnight jump formed a morning star pattern at the crucial support trendline, revealing strong chances of a reversal.
Considering the reversal momentum, the meme coin price may challenge the overhead trendline near $0.025. Additionally, a bullish rally can cause prices to rise to the psychological mark of $0.050.