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Foom (FOOM) Price Prediction: FOOM to Zoom Past Previous Highs by 18%?

FOOM Price Prediction: FOOM Plunges 3% - Market Correction or Panic Selling?
FOOM Price Prediction: FOOM Plunges 3% - Market Correction or Panic Selling?

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FOOM is bearish today after posting a 4% decline in the last 24 hours. At the time of writing, FOOM was trading at $0.0.0000000317.

FOOM’s price movement over the past week shows intense volatility. Sellers are behind the recent price action with the dumping activity causing the creation of lower lows.

FOOM’s rally started forming on September 6. On that date, the price rallied and made a false breakout past $0.0000000462. Following this rally, profit takers entered the market, and the price gradually dropped.

By September 8, FOOM had dropped to $0.000000030, erasing the gains made on September 6.

FOOM’s bearish trend comes amid uncertainty across the broader market. The global market cap has dropped by around 1.2%, with most top-ten coins trading in the red.

FOOM Holds Critical Support Levels As Bears Threaten Drop To All-Time Lows

Since September 7, FOOM has been trading at a range. However, bears appear to be readying for a further downtrend, with the price trading at a critical support level of $0.000000031.

If this support fails, FOOM will drop lower to test the August 14 level of $0.000000025.

On the other hand, the selling pressure appears to ease, as seen in the flattening trend of the Relative Strength Index (RSI) line. The RSI of 41 shows that sellers still have the upper hand.

For the bearish thesis to be invalidated, FOOM needs to rally past $0.000000034 and break past the trade within which it has been trading in the last few days.

The Moving Average Convergence Divergence (MACD) line proves a bearish trend is at play as it is on the opposing side. Bearish pressure could see FOOM dropping lower in the short term.

Nevertheless, the long-term outlook for FOOM is positive as the development team appears to be working on more features for the project. While the team did not mention the specifics of this new development, it could trigger significant gains for the token.

FOOM also held its first AI competition that sought to boost community engagement. FOOM is working with a disruptive technology that could open up more adoption for the project.

Bitcoin BSC Raises $1M Within A Week of Launch

The Bitcoin BSC presale has already raised over $1 million less than a week after launch. The presale has a soft cap of $3.96 million, which will be attained soon, given the rate at which BTCBSC tokens sell out.

Bitcoin BSC is a BEP-20 version of Bitcoin. The project allows early investors to buy BTCBSC at an early Bitcoin price of only $0.99.

Bitcoin BSC offers staking rewards to investors. As such, investors profit from the token’s price increase by holding and staking BTCBSC to earn rewards.

The project has set aside 69% of the total BTCBSC supply to issue staking rewards. The staking rewards will stop around the same time Bitcoin is thoroughly mined.

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