Bonk Price Prediction: Is It Time to Buy the Dip After BONK Drops 22% in 7 Days?
As the price of Bonk (BONK) clings to multi-week lows in the $0.000021s and suffers 7-day losses of roughly 22%, traders are evaluating whether this would be an advantageous moment to purchase the dip.
With the price only dipping below it once since mid-March, $0.000020 has served as a sturdy support zone.
In prior cases when BONK recovered from the $0.000020 region, its DMAs also played a supporting role.
Is it Time to Buy Bonk Price Probes 200DMA?
That holds true once more in this instance. Earlier this week, the 200-day moving average provided solid support for BONK.
In April, BONK conducted its most recent 200DMA test. The price of BONK went on to increase 260% in the six weeks that followed.
Upon last testing its 200DMA, the Bonk price had a 260% rebound within a few weeks.
Beyond $0.000070, BONK would have had a 260% increase from its low point this week.
Nothing indicates that BONK will definitely rebound this time.
However, this is only the second occasion this year that investors have had the chance to purchase BONK at its 200DMA.
