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Book of Memes Mounts Volatile Recovery – But What’s Next for BOME Price?

Book of Memes Mounts Volatile Recovery – But What’s Next for BOME Price?

99bitcoins99bitcoins2024/08/14 15:49
By:Isaiah MccallSam Cooling

Book of Memes Mounts Volatile Recovery – But What’s Next for BOME Price? image 0

Is Book of Memes (BOME) a joke to you? It might be now. BOME crypto, which once rocketed to a $1 billion market cap , is now scraping by at $0.0070, down a brutal 74.78%.

Yet, on-chain metrics suggest that BOME isn’t down for the count just yet.

Market Sentiment: Doubts and Hopes For Bome Crypto

Here are some important metrics at a glance for BOME:

  • Price: $0.007058
  • Support Levels: $0.007015, $0.007000
  • Resistance Levels: $0.007200, $0.007500
  • 20-day SMA: $0.007015
  • 200-day SMA: $0.007042
  • RSI: 59.96
  • MACD: Weak bullish crossover potential

BOME has taken a hit, but a 20% climb in the last 30 days is suggesting a potential rebound.

The coin’s daily chart is forming a falling wedge—a bullish pattern typically observed at lower lows after a previous increase—which could signal a breakout and a fresh rally.

Book of Memes Mounts Volatile Recovery – But What’s Next for BOME Price? image 1 ( BOMEUSDT )

Hopeful chart patterns aside, BOME’s vibe is trending down.

Santiment’s sentiment metrics reveal a bearish mood among traders. If this gloom lingers, it might snuff out BOME’s recent gains.

DISCOVER: The 15 Best Meme Coins to Buy in August 2024

Silver Lining for BOME Price: Is a Breakout on The Horizon?

Bears might be losing ground as the 20-day average inches closer to the 200-day for Bome.

A crossover could spark a bullish golden cross.

The Bollinger Bands for Bome crypto are relatively tight, indicating a period of low volatility. The price is currently hugging the middle of the bands, suggesting consolidation. However, with the price nearing the upper band, there is a potential for a breakout if momentum builds.

$BOME will melt faces pic.twitter.com/0jxMCaeZFR

— Fractal (@frektal) August 12, 2024

While TA might paint a somewhat rosy picture for Book of Memes, it is teetering on a knife-edge.

Sellers could drag it down to $0.0052, a stark reminder of its wild, volatile nature. Currently, in consolidation, BOME is flirting with key resistance levels.

Although a breakout is possible, traders should look for a decisive bullish move before entering.

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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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