BOME token indicates a buying opportunity on shorter timeframes for sideline traders at lower price levels.
The #Book of MEME token has experienced a significant pullback, declining by 21% over the past week.
Recently, $BOME has shown a double-bottom reversal pattern starting from the $0.0095 level.
In the Hourly chart, BOME's price has confirmed the double bottom reversal by breaking above the resistance trendline.
This breakout suggests an end to the correction phase for the meme coin, reclaiming the psychological level of $0.010.
Currently, the price of the Book of MEME token is $0.0106, with dominance noted above the 23.60% Fibonacci retracement level.
The breakout rally appears to be gaining momentum, potentially allowing the meme coin to exceed nearby resistance levels soon.
According to Coingabbar analysis, A breakout above the 50% Fibonacci level could trigger a substantial rally, potentially pushing BOME towards the $0.014 mark.
KEY LEVELS :
RESISTANCE LEVEL : $0.01400000-$0.01800000
SUPPORT LEVEL : $0.00920000-$0.00720000
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
Also read: Uniswap Price Prediction: Is $15 the Next Stop for UNI Coin?Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.