BOOK OF MEME (BOME) has started April on a positive note after a slight dip in the last week of March. The bulls have taken control, establishing support at $0.0139 and pushing the price to a seven-day high of $0.01643 before encountering resistance. As of now, BOME is up 9.76% at $0.01543, with market capitalization and trading volume also showing significant increases.
If the bullish momentum continues, the next resistance levels to watch out for are $0.0175 and $0.0187. However, if the bulls fail to maintain their current pace, the $0.0139 support level may be tested again.
In terms of technical analysis, the Relative Strength Index (RSI) suggests that the current uptrend may be losing steam, but it remains above 50, indicating optimism in the market. The Moving Average Convergence Divergence (MACD) also indicates some purchasing pressure and positive momentum, supporting the assumption of an ongoing bullish rise.
The Bull Bear Power (BBP) pattern shows that the bulls remain in charge and that additional price growth is likely. The rising volume throughout this positive trend further strengthens the likelihood of prolonged upward momentum.
However, the Money Flow Index (MFI) is in the overbought range, suggesting a risk of a short-term drop or consolidation as the market may be nearing exhaustion.
It is essential to note that the information provided in this article is for informational and educational purposes only and should not be considered financial advice. Readers are advised to exercise caution and conduct their own research before making any investment decisions.