As the bullish influence in the cryptocurrency world continues to grow, altcoins, especially meme coins, are rising at a staggering pace. Among meme coins, BONK price is showing bullish reversal rally momentum.
With bullish sentiment on the rise, the memecoin is poised for a breakout rally to new all-time highs in May. Will BONK surge 60%? Learn more about our BONK price prediction.
Will BONK price exceed $0.000038?
During the bull run preceding the SEC’s approval of an Ethereum spot ETF, BONK price sucked bullish momentum from the market. As demand increased, the meme coin jumped from the $0.000022 level, extending the current uptrend.
The bullish reversal was accompanied by a breakout of the falling wedge and a rounding bottom reversal. Moreover, the neckline of the trend continuation pattern is located at the $0.000038 level.
Currently, BONK price is up nearly 50%, challenging the overhead resistance and looking to breakout. However, with an intraday drop of 5.94%, the meme token is trading at $0.00003311, warning of a sharp correction.
Technical indicators:
MACD: The bullish trend in the MACD and Signal lines continues in the positive territory with the histogram rising.
DMI:VI line shows a huge divergence with a bullish gap and ADX line shows a banana curve. Therefore, technical indicators support the uptrend.
Will BONK rise 60%?
According to the Fibonacci levels, BONK price remains above the 78.60% Fibonacci level, which is $0.000033. However, the intraday decline warns that the bearish trend will continue. In this case, the reversal rally will pause and retest the 61.80% Fibonacci level, which is $0.00002859.
Optimistically, the bullish move will reach the $0.00005289 level, which coincides with the 1.618 Fib level.
(Personal opinion, not a recommendation)
In the crypto industry, if you want to seize the next bull market opportunity, you need to have a high-quality circle and maintain insight. If you are alone, looking around and finding no one, it is actually very difficult to persist in this industry. Follow the homepage~
If you like it, please follow us for more articles.
Thanks for reading! See you next time!
