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" rel="noopener noreferrer nofollow">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" rel="noopener noreferrer nofollow">cryptocurrency </a><a href="https://finance.coin-turk.com/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">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 fetchpriority="high" 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 noreferrer nofollow" 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" rel="noopener noreferrer nofollow">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" rel="noopener noreferrer nofollow">Bitcoin Volatility Affects the Cryptocurrency Market</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

Bitcoin Volatility Affects the Cryptocurrency Market

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