💵 AMBCrypto: Will $BOME showcase a full recovery?

Since BOME’s daily chart turned green, AMBCrypto checked Hyblock Capital’s data to find out whether the memecoin can fully recover its losses in this fresh week.

As per our analysis, the memecoin will face a high liquidation near $0.010. The memecoin needs to rise over that threshold before the memecoin can offset its loss from the previous week.

If a successful breakout happens, then BOME might as well reach $0.013 by the end of this week. 

Market indicators unfortunately turned bearish on BOME. For instance, the Relative Strength Index (RSI) registered a slight downtick.

Additionally, the Chaikin Money Flow (CMF) was also resting below the neutral mark. Both of these suggested that BOME’s price action might again turn bearish, which might not allow the memecoin to recapture its lost market cap in the short term. 

Nonetheless, like BOME, Solana also showed signs of recovery as its value surged by nearly 5% after a 15% drop last week. At press time, SOL was trading at $148.84 with a market capitalization of over $66.4 billion.

The good news was that the token’s weighted sentiment graph improved, indicating that investors’ confidence in SOL was increasing.