- Regardless of the worth hike, sentiment round BOME remained bearish.
- A number of of the metrics and indicators hinted at a pattern reversal for WIF.
The crypto market lately turned bullish, permitting a number of prime cash, together with Bitcoin [BTC] and Ethereum [ETH], to show inexperienced.
A number of Solana [SOL]-based memecoins, like BOME and BONK, additionally adopted the pattern, however dogwifhat [WIF] appeared to have missed out.
BOME and BONK stay on observe
In accordance with CoinMarketCap, BOME and BONK adopted the bullish market pattern as their every day and weekly charts remained inexperienced.
Notably, BOME was up by greater than 11%, whereas BONK’s worth surged by over 7% within the final seven days. At press time, BOME was buying and selling at $0.01203, and BONK had a price of $0.01203.
Due to the bullish worth motion, each of those meme cash’ social volumes remained excessive. BONK’s Weighted Sentiment additionally spiked, indicating that buyers’ confidence within the meme coin was excessive.
Surprisingly, regardless of a double-digit worth rise, BOME’s Weighted Sentiment dropped. This meant that bearish sentiment across the meme coin was dominant out there.
Supply: Santiment
AMBCrypto then analyzed BOME and BONK’s every day charts to see whether or not they would maintain their bull momentum. Starting with BOME, we discovered that the meme coin was about to check its resistance at $0.0126.
The MACD displayed a transparent bullish upperhand out there, suggesting that the potential for BOME breaking above the resistance was excessive.
Nonetheless, the Relative Power Index (RSI) registered a downtick, indicating that BOME won’t be capable of maintain its bull rally.
Supply: TradingView
Curiously, in contrast to BOME, BONK’s indicators recommend that the meme coin’s bull rally has simply begun. As an example, its MACD displayed the potential for a bullish crossover.
Its RSI had a price of 53., that means that it was above the impartial mark. Moreover, the Chaikin Cash Stream (CMF) additionally registered an uptick, which meant that the possibilities of a continued worth improve have been excessive.
Supply: TradingView
WIF is left behind
Whereas the aforementioned meme cash turned their charts inexperienced, WIF was left behind as its worth had dropped by greater than 6% within the final seven days.
As per CoinMarketCap, on the time of writing, WIF was buying and selling at $2.83 with a market capitalization of over $2.8 billion. Nonetheless, the bearish pattern may finish quickly.
AMBCrypto’s evaluation of Santiment’s information revealed that WIF’s Open Curiosity had dropped sharply together with its worth.
Typically, a drop within the metric signifies that the continued worth pattern may change quickly.
Supply: Santiment
Learn Bonk’s [BONK] Value Prediction 2024-25
Our evaluation of WIF’s every day chart identified that its CMF registered an uptick, hinting at a pattern reversal. Nonetheless, the RSI continued to maneuver sideways beneath the impartial mark.
Furthermore, the Cash Stream Index (MFI) registered a pointy downtick. These two indicators advised that WIF won’t be part of the bullish pattern as its worth may drop.
Supply: TradingView