Memecoins On A Run As PEPE And BOME Price Break Resistance?
The post Memecoins On A Run As PEPE And BOME Price Break Resistance? appeared first on Coinpedia Fintech News
The memecoin category has displayed a significant price action following the Bitcoin Halving, indicating a rising interest among investors for these tokens. Furthermore, top memecoins have recorded a significant surge in their respective portfolios over the past seven days.
Moreover, the current market sentiments indicate a high possibility of a memecoin mania in the upcoming month as the market turns bullish.
Pepe (PEPE):
The Pepe price has displayed a strong bullish reversal in its chart after trading under a bearish influence for about a month. Moreover, the price has added 4% within the past 24 hours and 52.87% over the past week, indicating a strong bullish outlook for the memecoin in the coming time.
The technical indicator, MACD, displays a rising green histogram, indicating an increase in the buying pressure in the market. Moreover, the averages show a bullish convergence, suggesting a positive price action for the altcoin in the coming time.
If the market pushes the price above the resistance level of $0.00000785, the price will regain momentum and prepare to test its upper resistance level of $0.000010. However, bearish price action may pull the price toward its low of $0.0000060.
Book Of MEME (BOME):
The BOME price has successfully claimed the title of one of the best memecoins of all time by securing the 7th spot. Furthermore, the memecoin has added 5.06% within the past 24 hours and its YTD stands at 1,161.4%, making it one of the best performers in this category.
The MACD shows a constant decline in the red histogram, indicating an increase in the buying-over-selling pressure in the market. Furthermore, the averages display a high possibility of a bullish convergence this week, highlighting the price will continue gaining value this week.
If the market holds the price above the support level of $0.0113, the bulls will prepare to test its upper resistance level of $0.0132. Conversely, if the bears overpowered the bulls, the price would lose momentum and fall toward its lower support level of $0.0094 in the coming time.
