With most of the meme coins under heavy correction, BOME The price shows a similar trend continuation. Meme coin lost important support levels and headed to test lower levels.
The correction phase creates a bearish pattern on the 4H chart and the increase in trading volume supports the decline. However, at a critical stage a bullish pattern emerges, marking a pivotal moment for BOME.
BOME price is trading at $0.00868 as it lost the critical psychological level of $0.01. This, meme coinIt puts the market into an intense correction phase and warns of continuation of the downtrend until the overall market improves.
Book of MEME price increased by 7.66% last night and challenged the low high formation. However, as overall supply undermines the bullish attempt altcoin It fell by 5.81%.
The falling channel formation on the 4H chart led to a break of $0.010 and is indicating a decline to $0.005628. However, the sideways trend above $0.0080 is indicating a bullish reversal.
As the downtrend continues, the 4H chart shows a falling channel pattern with two dominant trend lines extending the decline. Currently, buyers are struggling against the resistance confluence of the $0.094 level and the overhead resistance trend line.
Technical Indicators:
RSI: The RSI line on the 4H timeframe is showing a major bullish divergence at lower levels. Thus, the momentum indicator supports the possibility of an uptrend.
Will BOME Price Rise Above $0.001 Again?
Based on the Fibonacci retracement levels, BOME price continues to trade below the 61.80% level. With the massive supply at this level, price analysis predicts a potential drop to $0.0056 if the $0.008 level is broken.
From an optimistic perspective, a bounce back above $0.0094 could surpass the psychological $0.010 mark. If the recovery rally aligns with the broader market recovery, the uptrend could reach the $0.014 mark.
You can access current market movements here.
