Memecoins
BOME and Meme Coin offer a reversal entry with the possibility of a breakout
As broader market conditions are more volatile than ever, the bullish trend of meme coins is taking a hit. However, small-cap meme coins like BOME and MEME show a reversal possibility from the crucial support.
With turnaround momentum and breakout possibilities, will these small-cap meme coins lead to a bull run next week?
BOME reversal at $0.00882
With a Morning Star pattern at $0.0082, the BOME price trend shows a positive cycle possibility on the daily chart. The Book of MEME coin showed a price increase of 5.42% last night at the crucial support level.
Furthermore, the daily BOME price chart shows a downtrend, forming a resistance trendline. This bearish phase forms a descending triangle pattern, keeping the bullish growth in check.
Currently, the meme coin is trading at a price of $0.0087 with an intraday pullback of 1.55%, reflecting intraday weakness. However, the daily RSI line shows a bullish divergence in the latest declines to the $0.0082 level.
Optimistically, a reversal rally can reach the upper resistance trend line above the $0.010 mark. A trendline breakout rally can reach the $0.0188 handle.
MEME Breakout Rally Eyes coin price $0.025
With a bearish trend in motion, MEME coins price action displays a descending wedge on the daily chart. The falling wedge pattern is visible across multiple altcoins in current market conditions, suggesting a pullback phase. However, the recent jump that occurred overnight points to a positive cycle within the model.
Currently, MEME price is trading at $0.01943 with an intraday decline of 1.86%, following a 7.58% jump last night. The overnight jump formed a morning star pattern on the crucial support trend line, revealing strong reversal possibilities.
Considering the reversal momentum continues, the price of the meme coin may challenge the overall trend line near $0.025. Furthermore, a bullish rally can result in a price jump to the psychological milestone of $0.050.