BOME market analysis today:
1. K-line pattern:
BOME's current price is 0.008865 USDT, showing a trend of shock consolidation. The main support level below is 0.0085 USDT, and the upper resistance level is 0.0092 USDT. The price has tested the upper resistance many times, but has not yet successfully broken through, indicating that there is strong selling pressure in this area.
If the price breaks through 0.0092 USDT, it is expected to rise further to 0.0098 USDT or even 0.0100 USDT; if it fails to break through, the price may pull back to the support area of 0.0085 USDT or even 0.0080 USDT.
2. Technical indicators:
MACD: The MACD fast line is above the zero axis and diverges with the slow line, showing that the market has strong bullish momentum. If the fast line and the slow line continue to diverge, the price may rise further; if the two lines gradually converge, you need to be alert to the risk of callback.
RSI: The RSI is currently 64, indicating that the market sentiment is optimistic, but it has not yet entered the overbought range. If RSI breaks through 70, there may be pressure for a short-term correction.
EMA: EMA7 (0.0088 USDT) is higher than EMA30 (0.0086 USDT), indicating a positive short-term trend. EMA120 forms a strong resistance at 0.0092 USDT, and it is necessary to focus on the trend after breaking through this position.
3. Volume:
The volume has increased during the recent rise, indicating that the buying power of the market has increased. If the price breaks through 0.0092 USDT and the volume continues to increase, it may push the price further up to 0.0098 USDT or even higher.
Operation suggestions:
Long:
Entry point: You can consider entering the market to go long when the price pulls back to around 0.0086 USDT.
Target stop profit: The first stop profit position is set at 0.0092 USDT, the second stop profit position is set at 0.0098 USDT, and the further target can be seen at 0.0100 USDT.
Stop loss point: The stop loss is set at 0.0080 USDT to prevent the price from falling below the key support area.
Short:
Entry point: If the price encounters resistance at 0.0092 USDT and fails to break through, you can consider shorting in this area.
Target profit: The first stop profit level is set at 0.0085 USDT, and the second stop profit level is set at 0.0080 USDT.
Stop loss point: The stop loss can be set above 0.0095 USDT to prevent the price from breaking through the resistance level.
