In this comprehensive report, we will take you through BONK’s current performance, technical analysis, and future price predictions. Learn the most important strategies and tips to open a successful trade that will ensure you make the most of the upcoming market movement. Read on and benefit from details that the professionals don’t want you to know!
Read the full report and benefit 👇
Current price and recent performance
Current price: $0.00003182
Trading volume (last 24 hours): $178,511,297.64
Highest price in the last 7 days: $0.00003497 on December 27, 2024
Technical analysis
Recent Token Burn: BonkDAO# recently burned 1.69 trillion tokens, reducing the total supply by 1.8%. However, the price faced resistance at $0.00003517 and fell by 6.50% in the last 24 hours.
Market sentiment: The market sentiment remains bearish, with 70.03% of positions short.
Technical indicators:
ADX: At 23.51, indicating weak momentum.
MACD: -0.00000036, indicating the absence of strong price movement.
Moving Averages: A bearish crossover between the 20 and 50 period moving averages is temporarily reinforcing the current downtrend.
Short term price forecast
Resistance Levels: Strong resistance is expected at $0.00004, 22% above the current price. Breaking the $0.000035 level and forming a higher bottom is necessary to reverse the bearish market structure.
Support Levels: The major support level at 78.6% Fibonacci retracement level ($0.0000264) has been defended, giving hope to buyers.
Price Range Prediction: The short-term price action may see a range between $0.0000322 and $0.000035, but the $0.00004 resistance level remains the main target for the coming week.
Conclusion:
In the absence of fresh catalysts, the recent token burn is unlikely to lead to a significant surge in BONK price in the near term. Traders should be cautious until the $0.00004 resistance level is surpassed and converted into support, as further declines may occur based on market conditions and Bitcoin momentum.
Recommendations:
Open a deal
Limit Order: at price 0.00004000
In this case, if the rise occurs as expected, a deal will be opened automatically, and you will have a successful deal. If the opposite happens, you will not lose anything and you can cancel the deal at any time.
Trade now $BONK
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