The cryptocurrency market has been on a rollercoaster ride as token prices have been experiencing rapid fluctuations. Just a day ago, Bitcoin was expected to hit $70,000, but things have changed as upward pressure has built up. Meme coins have also been caught in the bearish trap, but this popular Solana-based token, BOOK OF MEME (BOME), has been showing great strength. Here’s what to expect from the BOME price rally at the end of the month.
BOME price has triggered a healthy bounce from the lower end of a key support zone after remaining stable for over six weeks. However, overcoming selling pressure has yet to prove the start of a bullish trend as the token continues to trade within a bearish range. Positive upside potential remains a possibility now that market volatility has increased.
Will BOME price rise another 20% to $0.0126?
BOME price started trading explosively as the price surged significantly at launch. Unfortunately, the bears became very active and caused massive losses that are continuing to this day. However, the bulls managed to trigger a bounce due to slight changes in market sentiment over the past few days. Therefore, it is believed that the price will maintain a healthy uptrend over the next few days, but it may be a tough task to reach the upper target of $0.0126.
While the price is trading inside a descending triangle, the MACD is showing increasing buying volume. Meanwhile, the RSI continues to hold higher and is on the verge of reaching the upper threshold. If the bulls show strength in testing the upside resistance, it could break out of the pattern and reach $0.012 initially. If not, BOOK OF MEME price is likely to remain consolidated within the pattern and reach a top. Therefore, the upcoming monthly close will be crucial for the rally.
