Market Analysis

BONK PRICE ANALYSIS & PREDICTION (April 21) – Bonk Explodes 40% Daily To Lead Altcoins, Are The Bulls Back?

Bonk Inu is regaining strength amid the latest recovery in the global market cap. It is leading the top gainers chart with an impressive gain overnight but appeared to be facing a small hurdle at press time.

Halting short-term correction above $0.00001 last week, Bonk stayed calm for some days and started to show signs of strength this week.

The price increased suddenly yesterday and surged through an important resistance level to test $0.00002 – marking its highest daily volatile session since March 6. It closed strongly with a bullish engulfing candle and advanced higher today

As of now, the buying pressure seems paused on the lower timeframe as it faced a minor resistance at the $0.000021 level that broke as support during last week’s crackdown. 

A weekly close above this resistance could activate this asset for a huge gain in the coming week. Rejecting it could bring a slight pullback in the market before rising back. Should the price pull beneath the monthly low – creating a new lower low – Bonk may witness a heavier collapse. 

But looking at the current market structure, the price appears strong as a new bullish setup slowly forms on the macro level. Technically, the daily volume indicator currently looks low but we can expect a shift in the trend if the buying pressure continues to increase daily.

BONK’s Key Level To Watch

Source: Tradingview

While facing a minor resistance, the next stop for the bulls would be the $0.000025 resistance – marked as the monthly high. Breaking this high could fuel more surges to the $0.0000295 and $0.0000367 resistance levels in the coming weeks.

For pullbacks, there are close supports at $0.000018 and $0.0000153. If these supports fail to produce a bounce, the $0.000012 level would be the next support to watch.

Key Resistance Levels: $0.000025, $0.0000295, $0.0000367

Key Support Levels: $0.000018, $0.0000153, $0.000012

  • Spot Price: $0.00002
  • 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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Image Source: calima3d/123RF // Image Effects by Colorcinch

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