Market Analysis

BONK PRICE ANALYSIS & PREDICTION (February 29) – Bonk Charges Stronger, Aims To Retake Its ATH Following 100% Surge In A Week

Bonk Inu appeared to be gaining traction again after lifting from a key support level. The price looks strongly bullish on the daily chart, making it the current top crypto gainer with 45% gains in the last 24 hours.

After undergoing a series of drops in the past months, Bonk found solid ground at $0.00001 and started to regain strength earlier this month. It pulled back for days and resurged near this price level last week.

The price increased significantly and flipped through last month’s high to reach $0.0000229 today, marking its highest level in two months.

Due to a slight rejection, the price dropped and currently faces a minor resistance at $0.0000215. This resistance is expected to flip easily if the bulls mount pressure in the next few hours. More so, with the rate at which the price surges, it may reclaim its all-time high (ATH) soon.

And breaking through the ATH could fuel a massive price explosion in the long term. While this past week saw the meme coin through its most volatile buy period since last December, a bigger move should be expected in the coming days.

From a technical standpoint, the monthly rebound level is now considered as solid support on the higher timeframe due to the latest increase in the market. Dogecoin and Shiba have also established support as they slowly catch up in terms of gain.

BONK’s Key Level To Watch

Source: Tradingview

A strong close above the current daily high should propel buying to the $0.000025 level. It may advance to $0.00003 before reclaiming the key $0.000035 resistance level, where a potential breakup will likely occur.

The immediate support to consider for a pullback is $0.000018. There’s also support at $0.0000146. Below it lies $0.0000127 in case of more dips.

Key Resistance Levels: $0.000025, $0.000030, $0.000035,

Key Support Levels: $0.000018, $0.0000146, $0.0000127

  • Spot Price: $0.000021
  • 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: zieproject/123RF // Image Effects by Colorcinch

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