Examining how Solana-based $BONK ‘flipped’ $WIF after 12% hike - AMBCrypto Analytics

On the price charts, BONK appeared to be on an uptrend and looked bullish. Since December 2023, BONK has consistently received support from a trendline, leading to significant surges. This time, after taking support, it surged by more than 27% in just 3 days. 

Meanwhile, BONK has now hit its strong resistance area near $0.000026. This level is the neckline of a bullish double-bottom price action pattern. If it flashes a breakout and the daily candle closes above the $0.000028-level, then there is a high possibility that it will hit the $0.000040-level – Its next resistance level.

Besides this analysis, technical indicators suggested that BONK is in a bull cycle as it seemed to be moving above the 200 Exponential Moving Average (EMA).