Cryptocurrency

BOOK OF MEME

Bitcoin

when

MEME

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-volatility-affects-the-cryptocurrency-market/" data-wpel-link="internal">Bitcoin Volatility Affects the Cryptocurrency Market</a> 
The <a href="https://en.coin-turk.com/terraform-labs-executes-significant-transactions-involving-avax-and-bnb-tokens/" data-wpel-link="internal">cryptocurrency </a><a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market</a> is experiencing sharp movements with the increase in Bitcoin (BTC) volatility. The largest cryptocurrency is expected to remain below the $70,000 threshold for a while, increasing downward pressure in the market. Although this has caused many memecoins to decline, a popular Solana-based memecoin, BOOK OF MEME (BOME), is showing strong performance despite this trend. 
<h2 style="text-align: justify" id="strong-performance-of-book-of-meme-strong">Performance of BOOK OF MEME</h2> 
BOME‘s price showed a healthy recovery from a critical support zone after a consolidation period of about six weeks. However, the lack of a clear breakout above the trend line causing selling pressure indicates that the altcoin is still in a downtrend. The increasing market volatility leaves the possibility of a positive rise open. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-375209" src="https://coin-turk.com/wp-content/uploads/2024/07/Altcoin-BOME.png" alt="" width="1600" height="777"> 
BOME’s price experienced a significant rise when it entered the market, but the bears quickly intervened, causing substantial losses. Recent slight positive market changes have allowed the bulls to trigger a recovery. However, reaching the upper target of $0.0126 may still be quite challenging. 
<h2 style="text-align: justify" id="strong-what-s-next-for-bome-strong">What’s Next for BOME?</h2> 
Although the altcoin continues to trade within a triangle formation in a downtrend, the MACD indicator signals an increase in buying volume. The RSI indicator is also elevated and approaching the upper threshold level. 
If the bulls can show their strength while testing the upper resistance, BOME’s price could break this level and initially reach $0.012. Otherwise, the altcoin’s price may continue to consolidate within the triangle and move without a clear direction for a while. 
Analysts consider the end-of-month close to be very important for the price direction. Therefore, the price movements in the cryptocurrency market should be closely monitored, and BOME’s price movements should be carefully evaluated. Any changes in the market dynamics could have a significant impact on BOME’s <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener" data-wpel-link="exclude">future</a> performance. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-volatility-affects-the-cryptocurrency-market/" data-wpel-link="internal">Bitcoin Volatility Affects the Cryptocurrency Market</a></h5>
The post <a href="https://en.coin-turk.com/bitcoin-volatility-affects-the-cryptocurrency-market/" data-wpel-link="internal">Bitcoin Volatility Affects the Cryptocurrency Market</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Bitcoin Volatility Affects the Cryptocurrency Market

목차

COINTURK NEWS

2024년 7월 30일에 게재된 다른 기사

BlackRock CIO Confirms No Solana ETF Plans in Near Future

Notcoin Price Plunges 12% In A Week As Experts Say Consider This P2E DOGE Derivative For Paraboli...

BingX Sponsors CoinGecko Q2 2024 Market Report: Including BTC ETH SOL

Hackers Steal $230 Million from WazirX

21Shares Partners With Chainlink (LINK) to Boost Transparency in Ethereum ETF

New Solana Memecoin Trump Fired Biden Will Surge Over 18,000%, While SHIB and DOGE Underperform

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!