Bonk Rises 85% as Big Traders Buy in—Could It Reach $1?

Investors and traders are interested in Bonk, the Solana blockchain meme currency, which has risen 85%.

The coin's future is questionable as it challenges important support levels around $0.00002635.

Bonk wants to stabilize these levels. However, market dynamics and trading behavior will determine whether it maintains positive momentum or deteriorates mood.

Bonk's near-term prognosis depends on if it can hold $0.00002635. A new cryptocurrency caught their eye and garnered momentum among Bonk traders during this delay.


Bonk's price increase faced resistance around $0.00004002, which may determine its next market cycle phase.


Bonk retreated to test vital support at $0.00002812.

This level matches the 100-day Simple Moving Average (SMA), which indicates a token's bullish or bearish market structure.

If Bonk bounces off this support, the currency may continue to rise.

However, a breach below this level might imply a longer correction.

The 4-hour graphic shows Bonk's pivotal moment. RSI decreased from 80% to 75%, suggesting decreasing buying pressure.

This change suggests the coin is overbought and vulnerable to a reversal.

With Bonk trading above the 100-day SMA, bulls appear to be in charge.

If the price falls below this moving average, a bearish crossover might further depress the price.

If the currency breaches its current levels without a rebound, it might challenge $0.00002320, the next significant support.

Market attitude about Solana's performance also affects Bonk's price movement.

Since Bonk is built on Solana, big SOL price movements might damage it.

Bonk's debut on Binance.US increased enthusiasm, raising the chart before consolidating.

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