BOME Price Forecast: Poised for a rally as technicals show bullish divergences

• 
  Book
  of
  Meme
  price
  finds
  around
  the
  key
  level
  at
  $0.0071,
  with
  an
  impending
  rally
  eyed.
• 
  The
  RSI
  and
  AO
  indicators
  formed
  bullish
  divergences,
  signaling
  a
  reversal.
• 
  A
  daily
  candlestick
  close
  below
  $0.0071
  would
  invalidate
  the
  bullish
  thesis.

Book
of
Meme
(BOME)
price
has
stabilized
near
the
critical
level
of
$0.0071.
The
Relative
Strength
Index
(RSI)
and
the
Awesome
Oscillator
(AO)
indicators
have
shown
a
bullish
divergence,
indicating
a
likely
reversal
and
upward
movement
in
the
days
ahead.

Book
of
Meme
price
action
shows
a
bullish
indication

Book
of
Meme
price
found
support
around
$0.0071,
the
low
of
April
13
on
Monday.
It
bounced
3%
and
trades
at
$0.0078
on
Wednesday.

Additionally,
on
the
daily
chart,
the
formation
of
a
lower
low
on
July
5
contrasts
with
the
Relative
Strength
Index’s
(RSI)
higher
highs
during
the
same
period.
This
development
is
termed
a
bullish
divergence
and
often
leads
to
the
reversal
of
the
trend
or
a
short-term
rally.

If
this
support
level
at
$0.0071
holds,
BOME
could
rise
7%
to
retest
its
daily
resistance
level
at
$0.0083.

Moreover,
if
BOME
closes
above
$0.0083,
it
could
extend
an
additional
23%
rally
to
retest
its
daily
high
of
$0.0103
from
July
1.

BOME/USDT
daily
chart

However,
if
the
Book
of
Meme
price
produces
a
daily

candlestick
close
below
$0.0071,
it
would
produce
a
lower
daily
low,
potentially
signaling
a
shift
to
bearish
market
conditions.
This
change
in
market
structure
would
nullify
the
bullish
outlook,
triggering
an
11%
decline
in
BOME
price
as
it
revisits
its
recent
daily
low
of
$0.0063
observed
on
July
5.