Following this month’s recovery that led to a break out of a resistance level yesterday, Bonk’s bias quickly turns bullish as it tested a new high. It is now facing a rejection while bigger positive moves underway.
Bonk is beginning to show signs of bullish again after turning bearish for months. This came after resurging from $0.000017 two weeks ago.
Ending last week with a slight rejection, the bulls reiterated actions this week, and the price broke out of a key resistance to tapping a five-month high of $0.0000342 today. Facing monthly resistance there, the high was briefly rejected, and it is now changing hands at around $0.0000312.
An increase above this high could facilitate stronger rally in the coming daily, although it must break above the current all-time high before we can validate a long-term move. Technically, Bonk has activated a new bullish momentum. A pullback could cause a little setback in the latest momentum before resuming bullish at full speed.
While several meme coins have posted minor losses in the past few hours as Bitcoin’s slightly lost steam for the first time in a week, Bonk remains strong as it charges for more gains at the time of writing. The bulls are now regrouping back despite the rejection. Bigger moves lie ahead!
BONK’s Key Level To Watch
The July’s $0.0000339 resistance remains an obstacle for the bulls in the ongoing surge. If they successfully overcome it, the next area of interest would be $0.0000445 and $0.0000477, where a major breakout lies.
With the latest rejection, Bonk may retest $0.0000278 as support. If the price further drops, $0.0000234 and $0.0000196 are the next support levels to consider for a broader retracement.
Key Resistance Levels: $0.0000339, $0.0000445, $0.0000477
Key Support Levels: $0.0000278, $0.0000234, $0.0000196
- Spot Price: $0.000031
- Trend: Bullish
- Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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