#BONKUSDT
😱🚀🚀BONK Price Targets $0.00004, Market Cap Exceeds $2 Billion
BONK Price Stuck in Rising Wedge, Targets 48% Gains
BONK Price | TradingView
In the recent market recovery, BONK’s price correction successfully formed a bottom at the support level of 0.000018. This bullish asset’s 76% gain has taken it to a trading price of $0.00003183, with a market cap surging to $2.19 billion.
Acquisition of price or market price at psychological levels has a positive impact on market characteristics. The price increase has pushed the upper Bollinger Band indicator upward, emphasizing that buyers are positive and ready to buy this asset.
However, the daily chart data shows that the current rally is still within the rising wedge pattern. The two trend lines of this chart pattern provide dynamic resistance and support, ensuring that BONK traders’ assets are protected from large fluctuations.
Today, BONK price rose 16.8% on a 76% increase in volume, indicating a large buying demand. The Average Directional Change Index (ADX) indicator climbed towards 16%, suggesting that buyer momentum will begin to strengthen.
With continued buying, Solana-based memecoin Bonk could rise 48% to challenge the overall trendline of the pattern at $0.000046. This potential retest would be an important moment for BONK to influence its short-term trend.
If supply pressure at this resistance level persists, BONK price could enter a new bearish coverage of the wedge, and its consolidation could be extended.
A breakout from the ongoing resistance trendline could provide the asset with the right support to continue the favorable uptrend. The rally after the breakout could push the asset to 0.000051 and then to 0.000057.
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