This Memecoin is Bucking the Trend: Will BOOK OF MEME (BOME) Price Dominate the Markets?

Cryptocurrency markets are in turmoil, with token prices being extremely volatile. Bitcoin was expected to hit $70,000 yesterday, but the momentum has changed as upward pressure has intensified. Additionally, memecoins have also fallen into a bearish trap, but this popular Solana-based token, BOOK OF MEME (BOME), is showing immense strength. Here’s what to expect from BOME’s price rally as the month winds down.

BOME price has triggered a healthy rebound from the crucial lower support zone after consolidating for over 6 weeks. However, the reversal above the selling pressure has yet to validate the start of an uptrend as the token continues to trade in a bearish range. Now that market volatility has increased, the possibility of a positive recovery remains intact.

Will BOME price trigger another 20% rally to initiate a rally to $0.0126?

BOME price started to surge as prices surged sharply at launch. Unfortunately, the bears became extremely active, causing massive losses that continue to prevail till now. However, the bulls managed to trigger a rebound with a slight change in market sentiments over the last couple of days. Therefore, the price is likely to maintain a healthy upside over the next couple of days, but reaching the target above $0.0126 might be a tough job.

Although the price is moving within a descending triangle, the MACD is showing increasing buying volume. Meanwhile, the RSI remains elevated and is about to reach the upper threshold. If the bulls show strength by testing the upper resistance, then it could break out of the pattern and reach $0.012 initially. Otherwise, the BOOK OF MEME price is likely to remain consolidated within the pattern and reach the high. Therefore, the upcoming monthly close is very important for the rally.

Fuente