After Pepe and GME, is Book of Meme ready for a comeback?#BOMEprice analysis takes a closer look at its remarkable 75% gain after an impressive first-day performance and impressive gains.
After stabilizing at around $0.00800000, Book of Meme began a steady rise. However, it encountered several rejections near the 38.20% Fibonacci level.
Despite being consolidated for over a month, BOME's price surged sharply today, breaking out of an apparent symmetrical triangle pattern.
On the hourly chart, BOME has been trading within a bullish flag pattern range.
The Gaussian Channel continues to show bullish momentum, which is further supported by a breakout of the Symmetrical Triangle pattern.
Sustaining above this pattern could trigger a rebound with the next resistance level at $0.01500000, coinciding with the 50% Fibonacci level.
Conversely, a failure to maintain trendline support could lead to increased selling pressure that could push the price down to $0.01000000, according to Coingabbar’s analysis.
Resistance: $0.01500000 - $0.02000000
Support level: $0.01000000-$0.00800000
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