BOME Price Prediction: BOME Near Crucial Support Zone, Can Bulls Defend It?
- WBOYOriginal
- 2024-07-15 10:41:02698browse
The 3rd largest Solana meme coin BOME is in a downward trend, moving 37% alone in the last 30 days.
BOME, the third-largest Solana meme coin by market capitalization, has seen a significant drop in the last 30 days, moving down by 37%. Currently, BOME is trading at $0.008212 with bearish price action.
As the market faces a downturn with the Bitcoin price dropping to new lows, there is an increased fear index in the market. Memecoins have been affected heavily as their performance is directly proportional to the Bitcoin direction.
BOME is now approaching a crucial support zone of $0.0079, having broken into a previously strong support level earlier today. A retest or continuation below this level will encourage holders to place sell positions leading to further decline.
The last time BOME dropped below this support was on April 15th.
The 4-hour BOME/USDT Chart shows a clear downtrend with technical indicators in the neutral zone and price moving below all moving averages.
In an in-depth analysis, we can see the Alligator indicator prints a Blue line above the green ad red and the momentum is above the price, indicating an open beanies signal.
The RSI shows the price is in the oversold zone, making a short reversal possible to keep te price above the support level.
BOME Price Prediction
The BOME price is now dictated by bears, a shift in special falling social sentiment, and Bitcoin price can only release the hold.
This can be measured by the Wieghted Sentiment indicator which is currently around -0.5, in negative, This indicator shows asset sentiment on social media and other sources, if negative means the assert discussions are too low to consider.
Bulls of Bome now need to hold the price above the $0.008 zone dauntless the sentiment shift occurs. However, a bull power above $0.01 is required to make a rebound and break above the downward resistance.
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