BOME opened strongly on the first day of April. Can the upward trend continue?
BOME, a cryptocurrency, has been in the limelight recently. Its price has soared like a rocket, up 9.76%, and has stood firmly on the 7-day high of $0.01643. Investors are excited, and the market value and trading volume have also risen, up 9.87% and 25.90% respectively.
But behind this craze, there are some subtle signals that deserve our attention. Although BOME was full of momentum at the start, it is now like a long-distance runner running halfway and starting to lose strength. The relative strength index RSI fell to 58.68. If it falls below 50, the price trend may reverse.
Of course, there are some indicators in the market to cheer us up. The positive MACD and the continuous rise of BBP tell us that the bulls are still in control of the situation and there is still room for price increases. Trading volume is also growing, as if the bulls are gathering and preparing to launch a fierce attack.
But don't forget that the money flow index MFI has entered the overbought area, just like an athlete's physical overdrawn, which may trigger a short-term decline or consolidation at any time. The current rise may have begun to lose strength, and the price may be temporarily adjusted.
As of press time, the trading price of BOME has fallen back to $0.016999, with a market value of $855,025,793 and a 24-hour trading volume of $868,455,316. If the rise continues and breaks through $0.01643, the next target will be $0.0175 and $0.0187. But market fluctuations may also cause us to test the support level of $0.0139 again.
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