đ±đđBONK Price Targets $0.00004 As Market Cap Exceeds $2 Billion
#BONK Price Stuck in Rising Wedge, Aiming for 48% Rally
BONK Price | trading view
Amid the recent market recovery, $BONK price correction managed to form a bottom at the $0.000018 support. A 76% increase in the bullish asset led it to trade at $0.00003183, with the market jumping to 2.19 billion.
The acquisition of price or market price at a psychological level has shown a positive effect on market characteristics. The rising price pushing the upper limit of the Bollinger Band indicator emphasizes that buyers are aggressive and ready to buy into the primitive of this asset.
However, data on the daily time frame chart showed that the current recovery was still within an ascending wedge formation. The two trend lines of this chart pattern offer dynamic resistance and support, ensuring that BONK traders' assets are protected from a major price movement.
Today, BONK price is up 16.8 percent, with a 76 percent increase in trading volume, indicating high buying sentiment from the leak. A rise in the ADX indicator towards 16% indicates that buyer momentum will begin to increase.
With sustained buying, Solana-based meme coin Bonk could rise 48% to challenge the pattern's overall trendline at $0.000046. This potential retest will be an important moment for BONK to impact its short-term trends.
If this resistance level supply pressure continues, BONK price may enter a new bear coverage within the wedge and its consolidation may be extended.
A possible breakout from the sustained, resistance trendline provides the device with appropriate support to extend favorable rallies. A post-breakout rally could push the asset to $0.000051, then to $0.000057.
