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Analysis of the market trend of two meme coins, PEPE and BOME

PEPE coin continues to face downward pressure

The recent price trend of PEPE coin has shown a clear downward trend. From the four-hour chart, a downward trend line composed of three high points formed between May and June has become the main resistance to the rise of PEPE prices. If this trend line continues to be effective, the price of PEPE may fall from the current $0.0000119 to $0.0000106, which happens to be the 50% retracement level of the recent upward trend.

In terms of technical indicators, the relative strength index (RSI) and the awesome oscillator (AO) are both below their respective averages of 50 and 0, which further confirms the bearish sentiment in the market. This shows that the bullish force is fading, while the bears are dominant, indicating that the price of PEPE may continue to fall.

However, the market is always full of variables. If PEPE can break out and sustain above $0.0000138, it will be an important signal for its price to rebound. If this happens, the price of PEPE is expected to rise by 10% and may hit the previous high of $0.0000152 on June 6.

BOME coin price tested by support level

The price trend of BOME coin is relatively stable, but it is also facing downward pressure. Currently, its price support level is at $0.00944 on the weekly basis. If this support level is broken, the price of BOME may fall sharply by 13% and return to the low of $0.00826 on May 1.

Similar to the technical indicator PEPE, BOME's RSI and AO are also below their average values ​​of 50 and 0, which also reflects the bearish sentiment in the market. This shows that the bulls have lost control and the bears are dominating the market, which may further pull down the price of BOME.

However, the market is unpredictable. If BOME can successfully break out and sustain above the daily resistance level of $0.0111 and turn it into a support level, and the RSI and AO also rise back above their average values, then the market may turn positive. In this case, BOME is expected to hit a higher daily peak and may rise by 27% to retest its high of $0.014133 on June 6.

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