💥💥💥 #Solana #Memecoins🤑🤑 $WIF and $BOME Eyes Slump Amid Market Gains
The #cryptocurrency market is witnessing dynamic price movements, with Bitcoin (BTC) maintaining stability above $66,000 while Solana-based memecoins like WIF and BOME experience declines.
WIF Token Price Movement
- WIF token's market value dropped by 4.13% in 24 hours to $2,838,673,268, with trading volume down by 43.34% to $551,782,383.
- On the 4-hour chart, WIF lost over 24% since bearish sentiment began, currently trading at $2.748 support level.
- Potential rally if support holds, challenging 61.8% Fibonacci retracement level at $3.47. Failure may lead to deeper retractions toward May lows.
BOME Token Price Movement
- BOME token's trading volume decreased by 46.99% in 24 hours to $461,268,359, signaling declining investor interest.
- Technical analysis shows BOME near the 50% Fibonacci retracement level on the 4-hour chart.
- Breach below could lead to further declines, targeting support at 38.2% Fibonacci level and possibly as low as $0.00828. Conversely, overcoming resistance may rally toward $0.01865.
Analytical Insights
- Moving Average Convergence Divergence (MACD) indicates weakening bullish momentum for both WIF and BOME.
- MACD line nearing crossover with signal line, potentially signaling a short-term market correction.
- MACD histogram showing contracting green bars near zero line, suggesting diminishing buying pressure and rising potential for a bearish crossover.
Source - coinedition.com