In the last seven hours, the price of Bonk Inu has increased by 22%, and it is expected to continue to rise.
There is a possibility that this upswing may start after a little dip and a possible retest of $0.0129.
In the event that the $0.0125 swing low is broken, the bullish thesis for BONK would be seen to be false.
The price of Bonk Inu (BONK) has increased by 22%, which indicates that there is a possibility of a further increase provided certain criteria are satisfied. This rise comes at a time when misleading news about the approval of exchange-traded funds (ETFs) has been spreading on the social media account of the United States Securities and Exchange Commission (SEC), which was previously known as Twitter. Customers who have been sidelined may have the chance to purchase the Solana-based meme currency BONK, since there is a possibility that a pullback is now taking place.
In spite of the odds, the price of the Bonk Inu
The price of Bonk Inu is showing indications of recovery and trend reversal after seeing a decline of around 73% over the course of the last three weeks. BONK has made a 68% recovery in only 48 hours, which indicates that this sluggish bleed seems to be turning around. This upswing has been successful in overcoming the daily resistance level at $0.0129, which corresponds with the biggest level of traded volume that has occurred since December 8, 2023 was reached.
In light of the fact that this significant obstacle has just been transformed into a support level, investors might anticipate a trend reversal. On the other hand, following a temporary recovery, it is possible that this upward trend will continue. While the Awesome Oscillator (AO) has flipped over the mean level, the Relative Strength Index (RSI) has pushed into the overbought circumstances. Both of these phenomena are occurring simultaneously. In spite of the fact that the RSI and the AO are both indicating that the overall view is optimistic, the move of the RSI might indicate a probable downturn.
The next important accumulation zone for purchasers who have been sidelined is the demand zone, which contains the price range of $0.0125 to $0.0133. With a rebound from this point, BONK might be propelled to the next significant barrier at $0.0179, which would represent a price increase of 34%.
A violation of the demand zone spanning from $0.0125 to $0.0133 on the four-hour time frame would result in the formation of a lower bottom, despite the fact that the price of Bonk Inu is not even close to erasing the positive view. With this new information, the bullish thesis would be rendered worthless, and there is a possibility that a decline of 12% would be initiated to the $0.0109 support level.
