BOME Buzz Builds After 17% Jump: Is BOOK OF MEME Gearing Up for a Major Rally?

• BOOK OF MEME rallies over 17%, trading at $0.0029.
• BOME’s daily trading volume has jumped by over 122%.

The crypto market cap has reached $3.36 trillion after the recent recovery attempt from the bearish grip. Major assets have entered the bullish territory. Notably, the meme coin market cap is found at around $80 billion, with BOOK OF MEME (BOME) registering a solid 17.25% jump.

In the early hours, BOME traded at a low range of $0.002407. Later, the ignited bullish push has broken through crucial resistances between $0.0025 and $0.0031, triggering the meme coin to climb to a peak of $0.00322. 

At the time of writing, BOOK OF MEME traded within the $0.002906 range, with a market cap of $200 million. Consequently, the daily trading volume of the meme coin has increased by 122%, reaching $355 million. Along with the market has witnessed a $1.53 million liquidation in BOME, according to Coinglass. 

The BOOK OF MEME price has recorded a gain of over 108% in the last seven days. The week opened trading at the $0.0013 range, and the mighty bullish wave has sent the price to the current trading level.

Could BOME’s Uptrend Signal More Gains Ahead?

BOME’s four-hour price trajectory reports the bullish momentum, triggering the price to find its key resistance at the $0.002965 range. A sustained position above the upper trendline might ignite the golden cross to form, driving the price to break beyond $0.0030.

Assuming the bears are making a comeback, it could likely pull the asset downward to its support at around $0.002871. Failing to hold this level might trigger the emergence of the death cross, opening the gateway for a deeper decline toward $0.0027 or lower.

BOOK OF MEME’s Moving Average Convergence Divergence (MACD) line has crossed over the signal line. It typically indicates a bullish crossover, and the upward price movement may continue. Additionally, the asset is experiencing a capital inflow with the Chaikin Money Flow (CMF) indicator stationed at 0.12, which suggests moderate buying pressure in the market, supporting the price strength.

Moreover, the relative strength index (RSI) for the day was found at 65.80, signalling that BOME is approaching the overbought zone, with the potential for a pullback or facing resistance. Its Bull Bear Power (BBP) at 0.000541 hints at a mild dominance of bulls in the market.

Highlighted Crypto News

$3K in Sight: Will Ethereum Bulls Keep the Fire Alive After 8% Jump?