How high can BOME rise after the surge?
This week, the meme coins in the Solana ecosystem collectively ushered in a net value jump of more than 5%, and BOME was the leader.
BOME has soared 20% to a high of $0.0105, but its subsequent trend will still be subtly affected by multiple factors: the approaching FOMC meeting of the Federal Open Market Committee, the changing market sentiment, the continued fermentation of meme coins in the Solana ecosystem, and the game between key support and resistance areas will all be key forces to determine its future direction.
BOME has rebounded since the sharp correction in early July, and RSI has broken away from the strong performance of the key bear market divergence signal. However, we should also be wary of the fatigue signal that may appear after RSI enters the overbought zone. Once RSI slides into the neutral zone, some retail investors will choose to take profits, thereby accelerating the pace of market adjustments.
In the four-hour time frame, the appearance of the golden cross pattern further consolidates the strong position of BOME coin price. The formation of this pattern marks that the 50-day exponential moving average EMA has successfully crossed the 200-day EMA, injecting a shot of adrenaline into the market.
The impact of the inverse head and shoulders pattern on BOME is that its upward trend is like a bamboo-breaking momentum, and the confirmation of the inverse head and shoulders pattern provides it with solid support. It is predicted that the currency is expected to soar 41% again on the basis of the breakthrough point of $0.0093, directly reaching a new high of $0.013.
According to Coinglass data, the open interest in the BOME futures market surged 50% to $107 million in just 24 hours. This data not only reflects the market's strong interest in BOME, but also indicates the possible increase in volatility and the subsequent risk of a pullback in the future. As most people seek to take profits, subtle changes in market sentiment will directly affect the price trend of BOME.
This week, we need to pay close attention to BOME's performance above $0.01. If it can stand firmly above this new support level, it means that the bulls have the upper hand and are expected to move further towards the target of $0.02 in the future.
The copycats are ready to move. I will look for some potential coins until the end of the year. It is expected that the space will be more than 10 times. Click on the avatar to view the top. It is better to grasp it than to guess blindly!
