đđđ Hereâs why #BonkInu price could lead the #memecoin pack with 30% rally
The Bonk Inu price has recently exhibited a rare technical pattern known as the Adam and Eve formation, signaling a potential reversal in its trend. The breakout above the $0.000012397 level, followed by a retest, indicates a promising rally ahead for $BONK holders.
The Adam and Eve pattern, characterized by a sharp, V-shaped "Adam" peak followed by a more gradual, rounded "Eve" trough, suggests a bullish sentiment in the market. This formation typically forecasts a 20% upswing, with a target price of $0.000014908, calculated by measuring the depth of the Eve trough and adding it to the breakout point.
On February 10, Bonk Inu price successfully breached the horizontal resistance at $0.000012397 and is currently undergoing a retest to confirm its newfound support. This sets the stage for a potential 20% move upward in the coming days.
If the #bullish momentum persists, investors can anticipate further gains, with a potential retest of the daily resistance level at $0.000016177, translating to a total gain of 30% from the breakout point.
Both the Relative Strength Index (RSI) and the Awesome Oscillator are indicating favorable conditions for BONK, supporting the bullish outlook.
However, a close below the critical support level at $0.000011747 on the twelve-hour candlestick chart would invalidate the bullish scenario, signaling a potential trend reversal. In such a scenario, BONK could experience a 20% decline, targeting the liquidity zone below $0.000009332.
Source - fxstreet.com
