đ BONK Has Taken A Breather: Can Bulls Continue To Dominate Ahead?
Bonk (BONK), the first dog-themed meme coin on the Solana Blockchain, took a pause and comfortably sustained gains above the 20-day EMA mark.
It made a double bottom pattern around its pivot of $0.00001800 and directed a notable recovery of over 55% this month. Fueled by the demand surge in most memecoins, BONK resisted the selloff and retained the bullish momentum.
Additionally, a rounding bottom pattern was in the making at press time. This meme coinâs price seemed poised to revisit the blue sky zone around $0.00004200. Once the BONK price climbs beyond the $0.00003200 mark, a sustained bullish wave might breach its all-time high (ATH) mark.
đ¸ Bonk Meme Coin Price at Press Time
Following the shift in sentiment across the crypto market in the last week, the memecoin managed to recover. It articulated a fresh recovery accompanied by a volume surge.
A fresh higher high swing was spotted, and the BONK price decisively halted the pullback and took a soft breather at press time.
It displayed a slight profit booking and paused after a notable pullback of over 25%. Meanwhile, the price action was still positive, and the bullish leg was imminent.
Until the prompt support zone of $0.00002500 breaches, the trend would remain bullish, and buyers would continue to dominate the battle.
đ¸ How Is Bonk (BONK) Performing Right Now?
When writing the BONK was trading at $0.00002846 with an intraday drop of 6.206%, reflecting profit booking in the last few hours. Its trading volume declined over 25% in the intraday session.
The pair of BONK/BTC was at 0.000000000428 BTC, and the market cap was $1.18 Million. Analysts are neutral and suggest that the BONK price may soon revisit its upper region of $0.00004200.
đ¸ BONK Price Action and Indicators Standpoint
In the past three months, BONK has retested its upper neckline zone of $0.00004200 twice and retraced only by 30% from its peak. Its short-term trend was positive, and buyers maintained their strength.
