Market Analysis

BONK PRICE ANALYSIS & PREDICTION (May 24) – Amid Slight Market Drops, Bonk Remains Bullish With A 10% Daily Gain

Several meme coins have attracted a nice gain since last week following a recent overall market increase. Despite cooling off a bit in the past hours, Bonk Inu remains strong daily as it looks primed for more gains.

Looking back to where the price started to pick up in mid-April, Bonk has seen a lot of recovery and has continued to show signs of strength daily. It has seen a slight rejection due to a recent drop in the market. 

While most altcoins have been relatively down in the past hours, the price is still looking strong with a super bullish trend on the daily chart. Due to this, we may continue a streak of buying even in the face of the bears. 

In fact, its trajectory remains positive as it currently shows no sign of major retracement. The recent price breakout of the inverse head and shoulder – H&S – pattern from March’s low is yet to reach the target. 

Although it may experience a small pullback to the $0.00003 level before rising back. While there’s still room for more growth, it must break above the previous (all-time) high to validate a stronger rally in the future. 

Currently, there are no signs of bears in the market. They have suffered a lot of loss in the past weeks and may remain in disbelief until the bulls reach an exhaustion point by losing market control.

BONK’s Key Level To Watch

Source: Tradingview

Following the bullish break out of an H&S pattern this week, the price touched $0.0000375 today. Surpassing that level in the future could trigger more rallies to the $0.0000426 and $0.0000477 resistance levels. 

Losing momentum could cause a pullback to the immediate $0.0000295 support level. If that level collapses, the lower support to watch for a drop would be $0.0000214.

Key Resistance Levels: $0.0000367, $0.0000426, $0.0000477

Key Support Levels: $0.0000295, $0.000025, $0.0000214

  • Spot Price: $0.000035
  • 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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