Meme coins are reacting fast to the recent market recovery along with Bonk Inu, which now leads the top gainers’ chart with an insane gain in the past 24 hours. It appears bullish and set to claim more highs.
Late last month, Bonk Inu ended a month’s bearish correction with a sharp bounce off the $0.000018 level. It cooled off buying pressure last weekend but later continued to show signs of strength on the daily scale.
Closing well above the $0.000025 level (last week’s high) yesterday, it managed to tap $0.00001269 a few hours ago and retraced briefly due to a rejection. It is now hovering at $0.000026. A further retracement could bring a retest to the last week’s high on the hourly chart.
Looking at the new higher high and higher low movement on the 4-hour chart, Bonk is expected to resume buying as soon as it finds support on the lower timeframe. April’s high would be the next target to watch.
Reclaiming the yearly high in the process should confirm a stronger rally in the long term. The bears are currently off the market. If they manage to return, they must retake last month’s low before regaining dominance.
BONK’s Key Level To Watch
Now that the bulls are slowly gaining control, their next area of interest would be the $0.0000295 resistance – marked as April’s high. Higher resistance levels to watch for the test are $0.0000367 and $0.0000426.
The recently flipped $0.000025 resistance is now considered a support. If the price retraces below it, Bonk may navigate the $0.0000214 support for a rebound. $0.000018 is the next support to watch for a drawdown.
Key Resistance Levels: $0.0000295, $0.0000367, $0.0000426,
Key Support Levels: $0.000025, $0.0000214, $0.000018
- Spot Price: $0.000026
- 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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