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.