Bonk
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Technicals Warn That the Bonk Price Might Plunge to $0.00002158
The #Bonk price dropped 3% over the past 24 hours to trade at $0.00002383 at press time.
With this recent 24-hour loss, the meme coin’s weekly performance has been nudged further into the red zone. The $BONK price is down more than 12% over the past 7 days as a result.
The Bonk price has entered into a consolidation phase between $0.00002333 and $0.00002582 after escaping a steep descending triangle in the last couple of days. However, traders have recently started to dump the meme coin again, which could lead to it losing the $0.00002333 support.
A break below this level will expose BONK to the risk of potentially dropping further in the following 24 hours. Traders might subsequently enter into a short position for the crypto. This potential sell pressure could then force the Bonk price down to the next crucial support level at $0.00002158 in the short term.
On the other hand, BONK maintaining a position above the $0.00002333 support for the next 24 hours might invalidate the bearish thesis. In this alternative scenario, the Bonk price could rise to the immediate resistance level at $0.00002582.
If the meme coin closes a 4-hour candle above the upper barrier of the consolidation range, then it might have a strong technical foundation to rise from in the following couple of days. Bulls could then decide to capitalize on the opportunity to push the Bonk price up to as high as $0.00002748 in the short term. #Solana #Memecoins #MemeWatch2024 #BONK
The full analysis was originally posted on ecoinimist.com.
The #Bonk price dropped 3% over the past 24 hours to trade at $0.00002383 at press time.
With this recent 24-hour loss, the meme coin’s weekly performance has been nudged further into the red zone. The $BONK price is down more than 12% over the past 7 days as a result.
The Bonk price has entered into a consolidation phase between $0.00002333 and $0.00002582 after escaping a steep descending triangle in the last couple of days. However, traders have recently started to dump the meme coin again, which could lead to it losing the $0.00002333 support.
A break below this level will expose BONK to the risk of potentially dropping further in the following 24 hours. Traders might subsequently enter into a short position for the crypto. This potential sell pressure could then force the Bonk price down to the next crucial support level at $0.00002158 in the short term.
On the other hand, BONK maintaining a position above the $0.00002333 support for the next 24 hours might invalidate the bearish thesis. In this alternative scenario, the Bonk price could rise to the immediate resistance level at $0.00002582.
If the meme coin closes a 4-hour candle above the upper barrier of the consolidation range, then it might have a strong technical foundation to rise from in the following couple of days. Bulls could then decide to capitalize on the opportunity to push the Bonk price up to as high as $0.00002748 in the short term. #Solana #Memecoins #MemeWatch2024 #BONK
The full analysis was originally posted on ecoinimist.com.
TOP 6 MOST POPULAR MEME COIN CURRENCIES.💰💰
............
👍✨👍...
Top Six most popular currencies.
Invest Today & Get Bright Tomorrow.
🎁🎁🎁💰💰💰
At the end of 2024.
These Currencies can beat all others. 100%.
💵💰🎁✨🔥👍
1_ $DOGE
2_ $SHIB
3_ $XRP
4_ #Bonk
5_ #Shiba-Inu
6_ #Pepe
..
..
#BinanceTournament #altcoins
............
👍✨👍...
Top Six most popular currencies.
Invest Today & Get Bright Tomorrow.
🎁🎁🎁💰💰💰
At the end of 2024.
These Currencies can beat all others. 100%.
💵💰🎁✨🔥👍
1_ $DOGE
2_ $SHIB
3_ $XRP
4_ #Bonk
5_ #Shiba-Inu
6_ #Pepe
..
..
#BinanceTournament #altcoins
New #Solana Memecoin #Cat Rides Pepe: The Next Big Thing?
The cryptocurrency market is abuzz with the latest meme coin sensation, Cat Rides Pepe (CRPE), built on the Solana blockchain. This new entrant is gaining traction and attention, with predictions of a massive 13,000% surge ahead of its listing on KuCoin.
CRPE is drawing comparisons to other successful meme coins like #SHIB and #Bonk , which experienced remarkable growth and adoption. The Solana ecosystem is known for its fast transactions and low fees, making it an attractive platform for meme coins.
Cat Rides Pepe's unique blend of internet culture and cryptocurrency has captured the imagination of traders and investors. Its upcoming listing on KuCoin has generated significant hype, with many expecting a repeat of the success seen with SHIB and Bonk.
Will Cat Rides Pepe live up to the hype and explode in value? Only time will tell, but one thing is certain - the cryptocurrency market is always full of surprises.
Stay tuned for updates on this developing story!
#BinanceTournament $BTC $ETH $BNB
The cryptocurrency market is abuzz with the latest meme coin sensation, Cat Rides Pepe (CRPE), built on the Solana blockchain. This new entrant is gaining traction and attention, with predictions of a massive 13,000% surge ahead of its listing on KuCoin.
CRPE is drawing comparisons to other successful meme coins like #SHIB and #Bonk , which experienced remarkable growth and adoption. The Solana ecosystem is known for its fast transactions and low fees, making it an attractive platform for meme coins.
Cat Rides Pepe's unique blend of internet culture and cryptocurrency has captured the imagination of traders and investors. Its upcoming listing on KuCoin has generated significant hype, with many expecting a repeat of the success seen with SHIB and Bonk.
Will Cat Rides Pepe live up to the hype and explode in value? Only time will tell, but one thing is certain - the cryptocurrency market is always full of surprises.
Stay tuned for updates on this developing story!
#BinanceTournament $BTC $ETH $BNB
#Bonk Price prediction 2024 $BONK
Month Minimum Price Average Price Maximum Price Potential ROI
April $0.000016 $0.000018 $0.000018
12.5%
May $0.000017 $0.000018 $0.000019
18.8%
June $0.000018 $0.000019 $0.000020
25%
July $0.000019 $0.000020 $0.000021
31.3%
August $0.000019 $0.000020 $0.000022
37.5%
September $0.000020 $0.000020 $0.000022
37.5%
October $0.000021 $0.000021 $0.000023
43.8%
November $0.000021 $0.000022 $0.000024
50%
December $0.000022 $0.000023 $0.000025
56.3%
All Time $0.0000192 $0.0000201 $0.0000216
34.7% Bonk
#BinanceTournament #AirdropGuide #BTCFOMCWatch #CPIAlert
Month Minimum Price Average Price Maximum Price Potential ROI
April $0.000016 $0.000018 $0.000018
12.5%
May $0.000017 $0.000018 $0.000019
18.8%
June $0.000018 $0.000019 $0.000020
25%
July $0.000019 $0.000020 $0.000021
31.3%
August $0.000019 $0.000020 $0.000022
37.5%
September $0.000020 $0.000020 $0.000022
37.5%
October $0.000021 $0.000021 $0.000023
43.8%
November $0.000021 $0.000022 $0.000024
50%
December $0.000022 $0.000023 $0.000025
56.3%
All Time $0.0000192 $0.0000201 $0.0000216
34.7% Bonk
#BinanceTournament #AirdropGuide #BTCFOMCWatch #CPIAlert
Bonk (BONK): Anticipated Resurgence
Bonk (BONK) stands out as one of the most beloved animal-themed memecoins, drawing inspiration from humanity's loyal companion—the dog. Its charm is further amplified by its status as the pioneering fun-oriented token on the Solana blockchain.
Leading the Solana memecoins movement, BONK established itself as the original dog-themed cryptocurrency. Despite the emergence of new meme trends, such as celebrity and president memecoins, BONK remains a focal point in the crypto community.
Nevertheless, BONK faced significant challenges when the broader crypto market took a downturn. Critical price thresholds were breached, and investor confidence waned significantly. Although a resurgence appears imminent, the exact timing of BONK's comeback is still uncertain.
💥 Don’t forget, you still have the chance to earn free $BONK tokens! To participate, simply head over to 💰VOTEPLATFORM.COM 💰 and cast your vote for #BONK. This special event is exclusively for token holders. 🎁
$BONK #Bonk #solana #Ethereum #TopCoinsJune2024
Bonk (BONK) stands out as one of the most beloved animal-themed memecoins, drawing inspiration from humanity's loyal companion—the dog. Its charm is further amplified by its status as the pioneering fun-oriented token on the Solana blockchain.
Leading the Solana memecoins movement, BONK established itself as the original dog-themed cryptocurrency. Despite the emergence of new meme trends, such as celebrity and president memecoins, BONK remains a focal point in the crypto community.
Nevertheless, BONK faced significant challenges when the broader crypto market took a downturn. Critical price thresholds were breached, and investor confidence waned significantly. Although a resurgence appears imminent, the exact timing of BONK's comeback is still uncertain.
💥 Don’t forget, you still have the chance to earn free $BONK tokens! To participate, simply head over to 💰VOTEPLATFORM.COM 💰 and cast your vote for #BONK. This special event is exclusively for token holders. 🎁
$BONK #Bonk #solana #Ethereum #TopCoinsJune2024
💥💥💥 Pepe, #Bonk surge despite sell-off in #Memecoins🤑🤑
PEPE and BONK have defied the broader crypto market downturn, showing notable gains over the past 24 hours. Analyst Michael van de Poppe suggests a market rebound is possible due to key macroeconomic events this week, including the Consumer Price Index (CPI) release, the Federal Open Market Committee (FOMC) meeting, and the Federal Reserve’s interest rate decision.
PEPE's Performance:
- PEPE reached a low of $0.00001163 on June 11 but bounced back to around $0.000013, marking an 8% increase over the past 24 hours. If support holds, further upside is possible.
BONK's Performance:
- BONK, Solana's first dog-themed memecoin, is currently priced at $0.00002872, up 6% in the past 24 hours. Although it reached an all-time high of $0.00004547 in March, it is down 17% over the past week. Today’s bounce could lead to further gains.
Market Outlook:
- Despite Bitcoin's decline and pressure on other altcoins, van de Poppe believes a bullish reversal is likely, especially after the FOMC meetings. The resilience of PEPE and BONK amidst market declines highlights the dynamic nature of the crypto market, particularly in the meme coin segment. Investors should closely monitor these developments given the upcoming macroeconomic events.
Source - coinjournal.net
#CryptoTrends2024 #BinanceSquareTalks #cryptocurrency
PEPE and BONK have defied the broader crypto market downturn, showing notable gains over the past 24 hours. Analyst Michael van de Poppe suggests a market rebound is possible due to key macroeconomic events this week, including the Consumer Price Index (CPI) release, the Federal Open Market Committee (FOMC) meeting, and the Federal Reserve’s interest rate decision.
PEPE's Performance:
- PEPE reached a low of $0.00001163 on June 11 but bounced back to around $0.000013, marking an 8% increase over the past 24 hours. If support holds, further upside is possible.
BONK's Performance:
- BONK, Solana's first dog-themed memecoin, is currently priced at $0.00002872, up 6% in the past 24 hours. Although it reached an all-time high of $0.00004547 in March, it is down 17% over the past week. Today’s bounce could lead to further gains.
Market Outlook:
- Despite Bitcoin's decline and pressure on other altcoins, van de Poppe believes a bullish reversal is likely, especially after the FOMC meetings. The resilience of PEPE and BONK amidst market declines highlights the dynamic nature of the crypto market, particularly in the meme coin segment. Investors should closely monitor these developments given the upcoming macroeconomic events.
Source - coinjournal.net
#CryptoTrends2024 #BinanceSquareTalks #cryptocurrency
Memecoins with Potential to Turn $1,000 into $100,000: Expert Analysis
As the crypto market gears up for a potential bull run, one expert shares his list of top memecoins that investors could use to boost their portfolios by a hundred times.
The cryptocurrency market has had a mini bull run since the start of the year. The total market capitalization has added over $900 billion, with memecoins surprisingly leading the way.
Ahead of a projected bullish pattern continuation later this year, many investors are keen to find the best memecoins to boost their portfolio returns. Veteran crypto investor Bitcoin China has some ideas, recently sharing these suggestions in an update.
According to the experienced investor, the top memecoins that can deliver a hundredfold return include Dogecoin, Shiba Inu, Bonk, Pepe, Bome, Dogwifhat.
#Write2Earn
#SHIB
#Pepe
#Bonk
As the crypto market gears up for a potential bull run, one expert shares his list of top memecoins that investors could use to boost their portfolios by a hundred times.
The cryptocurrency market has had a mini bull run since the start of the year. The total market capitalization has added over $900 billion, with memecoins surprisingly leading the way.
Ahead of a projected bullish pattern continuation later this year, many investors are keen to find the best memecoins to boost their portfolio returns. Veteran crypto investor Bitcoin China has some ideas, recently sharing these suggestions in an update.
According to the experienced investor, the top memecoins that can deliver a hundredfold return include Dogecoin, Shiba Inu, Bonk, Pepe, Bome, Dogwifhat.
#Write2Earn
#SHIB
#Pepe
#Bonk
#Bonk Price #prediction 2024
Month Minimum Price Average Price Maximum Price Potential ROI
April $0.000016 $0.000018 $0.000018
12.5%
May $0.000017 $0.000018 $0.000019
18.8%
June $0.000018 $0.000019 $0.000020
25%
July $0.000019 $0.000020 $0.000021
31.3%
August $0.000019 $0.000020 $0.000022
37.5%
September $0.000020 $0.000020 $0.000022
37.5%
October $0.000021 $0.000021 $0.000023
43.8%
November $0.000021 $0.000022 $0.000024
50%
December $0.000022 $0.000023 $0.000025
56.3%
All Time $0.0000192 $0.0000201 $0.0000216
34.7%
#altcoins #BinanceLaunchpool #BlackRock
Month Minimum Price Average Price Maximum Price Potential ROI
April $0.000016 $0.000018 $0.000018
12.5%
May $0.000017 $0.000018 $0.000019
18.8%
June $0.000018 $0.000019 $0.000020
25%
July $0.000019 $0.000020 $0.000021
31.3%
August $0.000019 $0.000020 $0.000022
37.5%
September $0.000020 $0.000020 $0.000022
37.5%
October $0.000021 $0.000021 $0.000023
43.8%
November $0.000021 $0.000022 $0.000024
50%
December $0.000022 $0.000023 $0.000025
56.3%
All Time $0.0000192 $0.0000201 $0.0000216
34.7%
#altcoins #BinanceLaunchpool #BlackRock
Crypto Recap: Bitcoin's Anticipated $80K, BONK Rally, and Recent Events
Arbitrum Crash: A recent incident linked to crypto Ordinals resulted in the crash of Arbitrum, confirming concerns raised by critics about its vulnerabilities.2024 Crypto Predictions: Bitwise's bullish forecast for 2024 anticipates Bitcoin soaring to $80,000, Ethereum's fees dropping significantly, and Coinbase potentially surpassing Binance.Ledger Phishing Attack: Users of Ledger wallets fell victim to a phishing attack, resulting in a theft estimated at $400,000-$500,000.BONK Airdrop Impact: Saga phone sales experienced a remarkable 10x surge after a BONK airdrop last week, showcasing the impact of a crypto event on other industries.Lazarus Group Involvement: North Korea's Lazarus Group was reportedly responsible for approximately 20% of crypto-related losses in 2023, highlighting their significant impact on the market.Eventful Week: The past week witnessed a flurry of significant events in the crypto market, ranging from security breaches to market movements, contributing to a highly eventful period.
📰 Crypto Week Recap: Insights, Incidents, and Intrigues 💡📆
The week witnessed an array of events, from blockchain controversies to bold predictions and staggering hacks. Let's dive into the week's juiciest stories in digestible bites:
🛠️ 1. Ordinals Crash Arbitrum 💥🧱
An incident linked to blockchain inscriptions caused a major crash in Arbitrum, a leading Ethereum scaling solution. Large, weighty transactions overloaded Arbitrum, temporarily halting operations—the first-ever chain crash due to blockchain inscriptions.
📈 2. Bitwise's Crypto 2024 Predictions 🚀📊
Bitwise's forecast foresees a booming crypto market: Bitcoin surpassing $80,000, Ethereum doubling revenues, Coinbase outstripping Binance in volume, and Stablecoins rivaling Visa in market cap. Detailed projections indicate potential milestones and market shifts.
🔓 3. Ledger's Breach & Stolen Funds 🛡️💰
Security breach shook Ledger, a top hardware wallet producer, as a hacker inserted a script into Ledger's Connect Kit, redirecting users to a phishing site. Between $150,000 to $500,000 was siphoned from unsuspecting users of associated dapps.
📱 4. Solana's Saga Phone Boom 📞🚀
Solana's Saga smartphone, initially sluggish in sales, witnessed a tenfold surge following the BONK airdrop announcement. Offering 30 million BONK tokens to Saga phone owners sparked a buying frenzy, catapulting the phone's sales and prompting a potential sales cap.
🌐 5. Lazarus Group's Crypto Heists 🕵️♂️💰
The infamous Lazarus Group, linked to North Korea, accounted for a staggering $300 million of crypto losses in 2023, comprising nearly 20% of the year's total losses. Known for exploiting crypto platforms and protocols, the group's actions fund North Korea's missile programs.
📈📉 Conclusion: A Week of Crypto Extremes 🔄🔍
The week showcased the extreme spectrum of the crypto landscape: from blockchain vulnerabilities impacting systems to bullish market predictions and high-profile breaches. Amidst volatility, due diligence remains pivotal in navigating this dynamic market.
🔔 Disclaimer: While striving for accuracy, the information provided is for informative purposes. Due diligence and research are recommended before making financial decisions in the volatile cryptocurrency market.
#Bitcoin #Bonk #Ledger #ARB #solana
$BONK $ARB $SOL
📰 Crypto Week Recap: Insights, Incidents, and Intrigues 💡📆
The week witnessed an array of events, from blockchain controversies to bold predictions and staggering hacks. Let's dive into the week's juiciest stories in digestible bites:
🛠️ 1. Ordinals Crash Arbitrum 💥🧱
An incident linked to blockchain inscriptions caused a major crash in Arbitrum, a leading Ethereum scaling solution. Large, weighty transactions overloaded Arbitrum, temporarily halting operations—the first-ever chain crash due to blockchain inscriptions.
📈 2. Bitwise's Crypto 2024 Predictions 🚀📊
Bitwise's forecast foresees a booming crypto market: Bitcoin surpassing $80,000, Ethereum doubling revenues, Coinbase outstripping Binance in volume, and Stablecoins rivaling Visa in market cap. Detailed projections indicate potential milestones and market shifts.
🔓 3. Ledger's Breach & Stolen Funds 🛡️💰
Security breach shook Ledger, a top hardware wallet producer, as a hacker inserted a script into Ledger's Connect Kit, redirecting users to a phishing site. Between $150,000 to $500,000 was siphoned from unsuspecting users of associated dapps.
📱 4. Solana's Saga Phone Boom 📞🚀
Solana's Saga smartphone, initially sluggish in sales, witnessed a tenfold surge following the BONK airdrop announcement. Offering 30 million BONK tokens to Saga phone owners sparked a buying frenzy, catapulting the phone's sales and prompting a potential sales cap.
🌐 5. Lazarus Group's Crypto Heists 🕵️♂️💰
The infamous Lazarus Group, linked to North Korea, accounted for a staggering $300 million of crypto losses in 2023, comprising nearly 20% of the year's total losses. Known for exploiting crypto platforms and protocols, the group's actions fund North Korea's missile programs.
📈📉 Conclusion: A Week of Crypto Extremes 🔄🔍
The week showcased the extreme spectrum of the crypto landscape: from blockchain vulnerabilities impacting systems to bullish market predictions and high-profile breaches. Amidst volatility, due diligence remains pivotal in navigating this dynamic market.
🔔 Disclaimer: While striving for accuracy, the information provided is for informative purposes. Due diligence and research are recommended before making financial decisions in the volatile cryptocurrency market.
#Bitcoin #Bonk #Ledger #ARB #solana
$BONK $ARB $SOL
BONK Rises Steadily as Bullish Indicators Strengthen on 4-Hour Chart
The #Bonk price has shown signs of bullish momentum on the 4-hour chart, as evident from the series of higher closing prices and positive technical indicators. The pair closed at $0.00002820, marking a consistent upward trajectory from earlier closings of $0.00002717 to $0.00002745.
The 9 Exponential Moving Average (EMA) has been trailing above the 20 EMA, which is typically a bullish indicator. Specifically, the 9 EMA has moved from $0.00002542 to $0.00002666, reinforcing the ongoing strength in price action. This bullish crossover further supports the uptrend, with the 20 EMA rising from $0.00002460 to $0.00002554 over the same period.
The Moving Average Convergence Divergence (MACD) supports this optimistic outlook. Recent values indicate increasing positive momentum, with the MACD line rising above the signal line to provide a bullish confirmation. The histogram values, ranging from 0.00000045 to 0.00000044, suggest strong momentum behind the current price increase.
Another key indicator, the Relative Strength Index (RSI), has stayed above 60 in recent periods, peaking at 66.52. This suggests that while the market is in a bullish phase, it is not yet in the overbought territory, which provides room for potential further upward movements.
Looking at resistance and support levels, $BONK is testing the immediate resistance at $0.00002832. A sustained break above this level could pave the way for testing higher resistances at $0.00002857 and $0.00002898. On the downside, support levels to watch are at $0.00002717, followed by $0.00002703 and $0.00002631. These levels will be crucial if the trend reverses, as they could provide potential entry points for traders looking to buy on dips. #Memecoins #TrendingPredictions #BullorBear
The full analysis and trade strategy were originally posted on ecoinimist.com.
The #Bonk price has shown signs of bullish momentum on the 4-hour chart, as evident from the series of higher closing prices and positive technical indicators. The pair closed at $0.00002820, marking a consistent upward trajectory from earlier closings of $0.00002717 to $0.00002745.
The 9 Exponential Moving Average (EMA) has been trailing above the 20 EMA, which is typically a bullish indicator. Specifically, the 9 EMA has moved from $0.00002542 to $0.00002666, reinforcing the ongoing strength in price action. This bullish crossover further supports the uptrend, with the 20 EMA rising from $0.00002460 to $0.00002554 over the same period.
The Moving Average Convergence Divergence (MACD) supports this optimistic outlook. Recent values indicate increasing positive momentum, with the MACD line rising above the signal line to provide a bullish confirmation. The histogram values, ranging from 0.00000045 to 0.00000044, suggest strong momentum behind the current price increase.
Another key indicator, the Relative Strength Index (RSI), has stayed above 60 in recent periods, peaking at 66.52. This suggests that while the market is in a bullish phase, it is not yet in the overbought territory, which provides room for potential further upward movements.
Looking at resistance and support levels, $BONK is testing the immediate resistance at $0.00002832. A sustained break above this level could pave the way for testing higher resistances at $0.00002857 and $0.00002898. On the downside, support levels to watch are at $0.00002717, followed by $0.00002703 and $0.00002631. These levels will be crucial if the trend reverses, as they could provide potential entry points for traders looking to buy on dips. #Memecoins #TrendingPredictions #BullorBear
The full analysis and trade strategy were originally posted on ecoinimist.com.
Bonk Price Prediction: BONK Falls 5%, but Will History Repeat to Send the Meme Coin Surging?
The $BONK price entered into a strong bullish move on Jan. 8 after it rebounded off of the $0.0000088550 support level. This led to BONK breaking above the $0.0000128480 resistance level and attempting to overcome the $0.0000192765 barrier as well. However, traders took profit, stopping BONK in its tracks as a result. The BONK price then retraced to the $0.0000128480 mark.
Currently, traders are attempting to pull the #Bonk price below this significant price point. What’s interesting is that the current setup is similar to the setup that resulted in the aforementioned bullish move for the meme coin. Should history repeat, the altcoin may rise to the closest resistance level at $0.0000192765 in the next couple of days. Continued buy pressure could lead to the crypto breaking above this threshold and potentially rising to as high as $0.0000290295 in the short term.
Still a Large Amount of Downside Potential
This bullish thesis may be invalidated if the Bonk price closes a 4-hour candle below $0.0000128480 in the next 12 hours. In this more bearish scenario, the #memecoin could be at risk of falling to the $0.0000088550 support level through the course of the following week.
Traders and investors will want to note that the Relative Strength Index (RSI) on BONK’s 4-hour chart was close to oversold territory. Traders may see this as a launchpad for a strong bullish move. Supporting this bullish outlook is the positive slope of the RSI line, which indicates that bulls are currently growing stronger against bears.
Despite this, the RSI line is positioned below its Simple Moving Average (SMA) line, which suggests that sellers still have the upper hand against buyers. As a result, traders may want to wait for the two lines to cross before going long on the meme coin. In addition to this, the Moving Average Convergence Divergence (MACD) line is breaking away below the MACD Signal line. This may be a sign that BONK’s negative trend is not over yet.
The $BONK price entered into a strong bullish move on Jan. 8 after it rebounded off of the $0.0000088550 support level. This led to BONK breaking above the $0.0000128480 resistance level and attempting to overcome the $0.0000192765 barrier as well. However, traders took profit, stopping BONK in its tracks as a result. The BONK price then retraced to the $0.0000128480 mark.
Currently, traders are attempting to pull the #Bonk price below this significant price point. What’s interesting is that the current setup is similar to the setup that resulted in the aforementioned bullish move for the meme coin. Should history repeat, the altcoin may rise to the closest resistance level at $0.0000192765 in the next couple of days. Continued buy pressure could lead to the crypto breaking above this threshold and potentially rising to as high as $0.0000290295 in the short term.
Still a Large Amount of Downside Potential
This bullish thesis may be invalidated if the Bonk price closes a 4-hour candle below $0.0000128480 in the next 12 hours. In this more bearish scenario, the #memecoin could be at risk of falling to the $0.0000088550 support level through the course of the following week.
Traders and investors will want to note that the Relative Strength Index (RSI) on BONK’s 4-hour chart was close to oversold territory. Traders may see this as a launchpad for a strong bullish move. Supporting this bullish outlook is the positive slope of the RSI line, which indicates that bulls are currently growing stronger against bears.
Despite this, the RSI line is positioned below its Simple Moving Average (SMA) line, which suggests that sellers still have the upper hand against buyers. As a result, traders may want to wait for the two lines to cross before going long on the meme coin. In addition to this, the Moving Average Convergence Divergence (MACD) line is breaking away below the MACD Signal line. This may be a sign that BONK’s negative trend is not over yet.
