#BONK Approaches Key Resistance, Bullish Momentum BuildsBONK-Approaches-Key-Resistance-Bullish-Momentum-Builds-
BONK’s price has surged by 24% as indicated on its weekly chart. This recent upward movement brings the memecoin above the 20-day SMA pointing to a possible short-term bullish trend.
Market analysts are keen on BONK as it nears crucial resistance at the upper Bollinger Band with expectations of a run to the upside if the price breaches with levels.
Price Action and Trend Analysis
BONK’s price has bounced back from a low of $0.00001766 near the lower Bollinger Band. This upward breakout has taken the price above the 20-day SMA currently located at $0.00002117.
However, the uptrend regained momentum after a green candle started to form suggesting a bullish reversal in the market after a continuous downtrend. BONK is now approaching the Upper Bollinger Band at $0.00002468 to retest the resistance level.
