#BONK Price Analysis: What the Future Holds for the Most Popular Solana Meme Coin in the Weeks Ahead?

With a market price of $0.000031 (a change of -9.35%) in the last 24 hours, BONK is battling to regain support above moving average resistance.


This follows a significant rejection at the $0.000033 price level and, in the short-term frame, a retracement of -10.45%.

Over the weekend, price activity was stifled as the price corrective forced the market back into troublesome shape under the localized resistance of the 20DMA.



Still, BONK bulls are aiming to break high while preserving technical structure, with support at $0.00003 being well-defended.

In the near term, keep an eye on the $0.0000315 level, which is the 20-day moving average resistance.

Also, the Relative Strength Index (RSI) is showing some interesting trends. With momentum fading in the midst of the confined decline, the indicator has remained neutral at 49.33, which might be seen as a positive indication.

It seems like the 20-day moving average will be the deciding factor in the near future, and any more rejection would most certainly cause the price of BONK to plummet significantly.

As a result of its remarkable growth in the retail investing markets, another initiative is winning more and more often, leaving BONK investors trembling.

#VanEck_SOL_ETFS #Bitcoin_Coneference_2024 $BONK