BONK’s consolidation hints at a breakout, supported by the fifth Elliott Wave pattern.
PEPE shows bullish momentum, with the fifth Elliott Wave signaling upward movement.
RSI and volume trends for both assets suggest potential bullish breakouts are approaching.
The crypto market shows signs of movement for BONK and PEPE, with technical analysis suggesting potential breakouts for both assets.
BONK has been trading sideways for three days, but this consolidation could soon lead to a breakout.
3 days of essentially sideways is so close to breakout, will probs be a sustained move imo$BONK pic.twitter.com/6MsnkVyVBY
— Bluntz (@Bluntz_Capital) September 30, 2024
The Elliott Wave count suggests the price is in the fourth corrective wave, with a fifth impulsive wave expected. This could drive BONK’s price to 0.000003000.
Source: Bluntz_Capital
A rising wedge pattern between the third and fourth waves supports this analysis. These patterns often signal temporary consolidation before an upward price move.
The Relative Strength Index (RSI) on the 1-hour chart is 53.86, indicating a neutral to slightly bullish sentiment. Moreover, the volume has decre…
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