Increasing by over 2x to reach a key breakdown level in the past month, BOME faced a rejection yesterday and paused buying pressure. It looks weak daily due to a 7% drop, but remains strong on a monthly scale.
Following a major recovery in the meme coin sector during this bullish phase, BOME posted a huge gain in the past month and looks strong again. Still, the bulls are yet to fully gain dominance in the short-term.
Looking back from where it started to regain momentum from $0.00009 on the daily chart, the past week marked the crypto’s biggest recovery phase with a mind-blowing 110% gain, doubling its price in a short time.
Yesterday’s explosion saw BOME through a retest of a key breakdown level after weeks of buying, and as we can see, it saw a rejection and lost steam. It is currently down on the day following a minor loss in the past hours. Despite that, its monthly gain is still held strongly intact.
There’s still hope for more positive actions if the demand level continues to increase daily. Otherwise, the recent rejection might bring an end in the recovery on the daily scale. Such a scenario may cause a sell action capable of bringing the bears back on track. If that happens, we may see a slide back to the $0.002 level or even below.
BOME’s Key Level To Watch
Rejecting the $0.00325 resistance has cause a little setback today. If the price increases above it in the next few hours, the next buying target would be $0.0043 and perhaps $0.0056 in the future.
Should the price further drops, there’s support at $0.0021. If it fails to contain pressure, the $0.00174 level is the next support to consider for drops, along with $0.00131 – the current monthly low.
Key Resistance Levels: $0.00325, $0.0043, $0.0056
Key Support Levels: $0.0021, $0.00174, $0.00131
- Spot Price: $0.00286
- Trend: Bullish
- Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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