Lately, BOME ‘s transaction volume increased by over 40%. This increase caused the total market value of the meme coin to exceed $800 million. Additionally, the number of people holding this coin is also increasing. This shows that the popularity of the meme coin is increasing and growing rapidly.
In terms of technical analysis, it is noteworthy that the BOME price has made a strong breakout from a horizontal resistance level on the higher time frame (HTF) charts. This level no longer functions as resistance but as support. Additionally, the price continues to consolidate above this level. Additionally, transaction volume continues to increase significantly.
This seems to point to an 80% to 90% price rally in the near future. Well, meme coinIt means that the value of may increase significantly and the price may enter an upward trend.
As mentioned, the price traded within a predefined range and approached the top of the triangle. The increase in buying volume helped the rally initiate a breakout and test the initial resistance level at $0.012.
The bears are applying some pressure right now. It is possible that this will disappear when the downward force weakens. Additionally, the RSI is shifting within an ascending parallel channel and is about to test the upper band. This is likely to cause a minor pullback. However, it is possible for the bulls to manage to hold a rising trend.
Therefore, it is believed that the BOOK OF MEME price will experience a pullback towards the resistance of the triangle, which has now become the new support zone. Once done, the price is likely to revive a fresh rise towards the higher resistance at $0.014. These levels previously acted as a strong resistance level and confirmed the presence of the bears. Therefore, a rally above these levels is likely to provide a strong foundation for the token to advance towards higher targets near $0.02.
