- The Solana-based meme coin, BOME, has entered a significant pullback phase following impressive listing gains.
- Furthermore, the BOME price experienced a 38% drop in April, forming a triangle formation on the daily chart and even dipping below the psychological barrier of $0.010.
- Despite this, the meme coin sector appears to be reviving, with bullish sentiments present in the midst of the evolving sector.
After a significant pullback, Solana-based meme coin BOME is showing signs of revival. Despite a 38% drop in April, bullish sentiments are present, indicating potential growth in the evolving meme coin sector.
Book of Meme Price Performance
With a market value of $639 million, the price of Book of Meme is on the rise as the broader market gradually recovers. Despite a negative return of 19% over the last 30 days, the BOME price has begun to rise, showing a growth of 20% over the last 7 days.
Recovery Rally Gains Momentum
As the recovery rally gains strength, the BOME price is escaping from its triangle formation with a double-bottom reversal. Along with increasing trading volume, the rebound from $0.0081 has reclaimed the psychologically significant $0.010 mark.
Technical Indicators
The neckline of the reversal formation is at the $0.012 level, signaling a bullish breakout for a long-term uptrend. Moreover, according to Fibonacci levels, the pullback on the first bull run offers critical price levels.
Will BOME Price Surpass $0.012?
The $0.012 level continues to serve as a significant resistance. It is possible that this will determine the upcoming BOME price trend. A breakout rally could potentially double the price, reaching a peak of $0.023 this month. On the other hand, a reversal could put the $0.010 level at risk.
Conclusion
Despite a significant pullback, the Solana-based meme coin BOME is showing signs of revival. With the meme coin sector seemingly reviving and bullish sentiments present, there is potential for growth in the evolving sector. However, the $0.012 level serves as a significant resistance, and its breach or failure could determine the future trend of BOME price.
