BOME daily chart level technical analysis:
1. MA (Moving Average):
MA(7): The short-term moving average shows price around 0.009220, which is slightly higher than the current price of 0.009346, indicating that the price is recovering from the previous decline in the short term.
MA(25): The medium-term moving average shows that the price is about 0.007607. The price has broken through this moving average, showing a certain upward momentum.
MA(99): The long-term moving average shows price at 0.007364, which is a longer-term support level. When the price breaks above this moving average, it shows that the market may enter a stronger bull trend.
2. VOL (Volume):
Trading volume has increased significantly recently, showing that market activity has increased and buying power has increased. Especially when the price breaks through the short-term moving average, the cooperation of trading volume shows that the price may continue to rise.
3. MACD (Moving Average Convergence and Divergence):
There is a sign of a golden cross between the DIF line (MACD line) and the DEA line (signal line) (the DIF line crosses the DEA line), which is a potential bullish signal and indicates that the price may continue to rise.
The MACD histogram shows increasing upward momentum, suggesting that the current uptrend may continue.
4. RSI (Relative Strength Index):
The RSI is 62.78, indicating that the market is currently slightly overbought, but has not yet reached the overbought area (above 70), indicating that there is still room for price upside, but caution is needed.
Target price:
First target: Based on the combination of MA, MACD and trading volume, the next upward resistance may be located at the previous high around 0.015562. If the price can break above this level, further upside to 0.012562 is possible.
Second target level: After breaking through the first target level above, the long-term target may be around 0.016511.
Take profit and stop loss price:
Stop loss price: It is recommended to set it below the MA (25), around 0.007607, which is a strong support area. If the price falls below here, it may indicate a trend reversal.
Take profit price: You can consider taking partial profit near 0.012562 (previous high). If the price breaks through further, you can consider a higher target.
