Are Whales Selling Their Bags? Bonk Price Prediction After 10% Drop Overnight
With a $2 billion market worth and $416 million TVL, Solana-based memecoin Bonk (BONK) stands out. BONK's sudden drop raises doubts regarding its causes and future price fluctuations.
Due to optimistic patterns and market interest, Bonk set an all-time high (ATH) three months ago despite the current decline. This introduction will examine BONK price forecast using technical indicators and levels traders should watch.
Momentum and Key Indicators
With a $2 billion market worth and $416 million TVL, Solana-based memecoin Bonk (BONK) stands out. Bonk attained its ATH three months ago due to bullish patterns.
Bonk has maintained momentum despite market dips due to its great performance. As market sentiment improves, Bonk is a memecoin to watch this year for growth.
BONK is up 3.45% to $0.000022. The pivot point is $0.0000229, which traders must observe. Resistance begins at $0.0000242 and continues between $0.0000257 and $0.0000271. If the price breaks the pivot point, these resistance levels suggest higher objectives.
The downside has immediate support at $0.0000213, $0.0000199, and $0.0000180. Traders must observe these support levels since they suggest where the price may stabilize if it declines.
Technical indicators enhance forecasts. The asset is nearing overbought territory but not yet in a critical zone with an RSI of 62. The 50-day Exponential Moving Average (EMA) at $0.0000212 supports the trend.
The downward trendline, which extends resistance at $0.0000229, is important. Candles falling below this level might trigger a selling move, strengthening negative sentiment. However, if BONK breaks above this level, it may indicate a bullish trend.
Finally, BONK stays negative below $0.0000229. To make smart selections, traders should watch these levels. A break over immediate resistance around $0.0000229 might signify a positive trend, while staying below it could lead to additional falls.
