BOME is back with a bang!
The MEME token has dropped 21% in the past seven days as a strong correction phase arrived. However, with the bull comeback in the last few hours, the BOME token has staged a double bottom reversal from the $0.0095 mark.
In the 1H chart, the BOME price showed a double bottom reversal breaking above the resistance trendline. The breakout ended the correction of the meme coin and recaptured the psychological mark of $0.010.
Currently, the MEME token is trading at $0.0106 and is dominating above the 23.60% Fibonacci level. As the breakout rebound gains momentum, the MEME token may soon break above the overhead resistance.
Technical Indicators:
MACD: MACD and the signal line maintain a positive recovery, reflecting the lift in demand.
EMA: 50 EMA is rising with the breakout rebound, increasing the chances of a Book of MEME rebound.
Will BOME price reach $0.012?
A bullish breakout rally could soon gain momentum as hopes for a trend reversal are high. Moreover, a recovery in the broader market could drive a sharp rebound in the price of Book of MEME coin.
A breakout above the 50% Fibonacci level and the 200EMA in the 1H chart would signal a sharp rise next week. Moreover, this would increase the chances of a golden cross in the 1H chart.
On the upside, BOME price could reach $0.014.
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