Many meme coins have posted gains amid a slight break in bearish including Bonk Inu, which is leading the park with an impressive gain since yesterday. It looks strongly bullish and sets to claim more highs.
The past few days have been relatively calm across the crypto space but Bonk has seen an impressive recovery in the last 24 hours and is now painting green scenarios at the time of writing.
This ongoing bullish move was triggered by a bounce off the $0.000018 level two weeks ago. It fell back to reestablished support above this price level and resurged to where it is currently priced at $0.0000262.
Flipping through a minor resistance of $0.000024, the price is now looking strong following a newly formed double-bottom pattern on the daily chart. A surge above the neckline ($0.000028) should confirm a breakout of this bullish pattern.
Rising above the $0.000045 level would not just bring a full recovery in the market but will validate the higher high and higher low pattern on the weekly outlook. The only condition for bearish right now lies in the breakdown of the two-week holding support level.
But with the latest market sentiment, which still puts Bonk on a bullish track, we can expect more surges in volatility. It is currently poise for a new bullish rally, holding more than 50% gains in the past six months.
BONK’s Key Level To Watch
The latest buying pressure is supported by a daily $0.000024 and a two-week $0.0000181 level. Below these levels lies $0.0000153.
Currently, there’s an immediate resistance at $0.0000295. If the buyers overcome this resistance, the next area of interest would be $0.0000371 and the important $0.0000445 resistance – May’s high.
Key Resistance Levels: $0.0000295, $0.0000371, $0.0000445
Key Support Levels: $0.000024, $0.0000181, $0.0000153
- Spot Price: $0.0000262
- 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.
Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!