🚀 Check the technical analysis for BONK 🚀
BONK has experienced a remarkable 30% surge in value within a week, leading to discussions about the potential of reaching the $1 mark. Market observers are optimistic about the future price forecast for Bonk, considering its positive momentum.
In the ever-changing landscape of digital currencies, BONK has stood out with an impressive 4% gain in the past 24 hours, securing the 78th position on CoinMarketCap's ranking. The circulating supply and live market cap of BONK, which is approaching $842.9 million, make its value particularly noteworthy.
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Analyzing the 4-hour chart, it is evident that $0.0000138 serves as a pivotal point for BONK's price. Immediate resistance is encountered between $0.0000148, whereas further obstacles lie in the range of $0.0000157 to $0.0000169. Conversely, support levels at $0.0000128, $0.0000116, and $0.0000097 provide a foundation for potential price fluctuations.
The Relative Strength Index (RSI) stands at 76, indicating significant buying pressure and approaching overbought territory. Furthermore, the current market trend is reinforced by bullish sentiment, as the 50-Day Exponential Moving Average (EMA) hovers just below $0.0000109.
Examining the chart, it is notable that BONK has reached the 50% Fibonacci retracement level around $0.0000138. Sustaining bullish momentum above this point could potentially drive BONK's price towards the 61.8% Fibonacci retracement level, approximately $0.0000148.
Ultimately, maintaining a price above the critical mark of $0.0000138 would provide a positive technical outlook for BONK.
