The cryptocurrency market has been experiencing a huge turmoil over the past few days, with Bitcoin price dropping below $66,000.
This has triggered a huge bearish wave in the market, forcing major altcoins to experience a massive downtrend. However, one of the popular memecoins, BOOK OF MEME (BOME), has been maintaining a decent uptrend, keeping hopes alive for a legitimate uptrend.
BOME Price has been trending upwards since its launch on the Solana network. The TVL and trader activity have surged extremely high due to the increasing interest among traders in this coin and other tokens on the network. Currently, other memecoins have been trading bearishly, while BOME Price is struggling to maintain bullish momentum.
Where is BOME Price headed next? Will other memecoins follow this trend?
Despite the major turmoil that the cryptocurrency market is experiencing, BOME Price is showing strong strength as it continues to trend higher. With the recent uptick, the price is moving towards a critical resistance zone between $0.0185 and $0.0192. Although the price is trading inside an ascending triangle, the possibility of a breakout above the resistance before reaching the apex of the pattern seems high.
In addition, the DMI remains bullish and the ADX remains close to the upper limit as the two levels diverge. This suggests that the price may start to consolidate when breaking through the resistance zone, and the bulls may face some exhaustion. In addition, the Stochastic RSI triggered a bullish divergence after testing the lower support level, supporting the bullish narrative.
Therefore, the current trading setup suggests that the BOOK OF MEME price is about to reach levels above $0.019, but reaching $0.02 may be a tedious task. The Bitcoin halving is approaching, and the market may set off a wave of bullishness. Therefore, the BOME price is also expected to have a significant impact and maintain a healthy rise to reach the key resistance level of $0.24.
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