The post BOME Price Revives a Strong Upswing; Will It Reinstate ‘Memecoin Mania’? appeared first on Coinpedia Fintech News

The crypto markets have been experiencing massive turbulence over the last few days, with the Bitcoin price falling below $66,000. This has created a huge bearish wave within the markets, which has compelled the major altcoins to undergo a massive descending trend. However, one of the popular memecoins, BOOK OF MEME (BOME), has maintained a decent uptrend, which has kept hopes for a reasonable uptrend alive. 

The BOME price has been trading in an ascending trend since its launch over the Solana network. The traders’ interest piled up over the token and other tokens over the network, due to which the TVL and the trader’s activity spiked extremely high. Currently, the other memecoins have been floating over a bearish well, while BOME Price is trying hard to keep up the bullish momentum. 

What’s next for the BOME price? Will the other memecoins follow the trend?

While the crypto markets are undergoing major turbulence, the BOME price manifests acute strength as the trend remains elevated. With the latest upswing, the price is moving towards the key resistance zone between $0.0185 and $0.0192. Despite the price trading within an ascending triangle, the possibility of a breakout above the resistance appears to be high before reaching the apex of the pattern. 

Besides, the DMI remains bullish as both levels are diverging, with the ADX maintaining its levels close to the upper threshold. This suggests the price may begin to consolidate as it breaches above the resistance zone and the bulls may face some exhaustion. Moreover, the stochastic RSI has triggered a bullish divergence after testing the lower support, supporting the bullish narrative. 

Therefore, the current trade set-up indicates the BOOK OF MEME price is on the verge of reaching levels above $0.019 but achieving $0.02 could be a tedious job. Bitcoin halving is approaching, which may circulate a bullish wave across the markets. Hence, the BOME price is also believed to have a major impact and maintain a healthy upswing to reach the crucial resistance at $0.24. 

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Filed under: Bitcoin - @ April 3, 2024 7:22 am