With a bullish pattern pushing BONK to a brand fresh all-time high, is the meme coin nearer to hitting its dream target of $0.00010?
As a novel meme coin within the crypto market, BONK has now finished a market cap of $4.17 billion. It has elevated by 71% over the final 7 days and has surpassed the $0.000050 psychological stamp.
Moreover, the coin has entered the terminate 30 cryptocurrencies as its bullish momentum continues. Let’s dive correct into a speedy technical diagnosis of BONK’s label motion.
BONK Technical Analysis
The each day chart finds a breakout rally, with BONK’s label gaining momentum. The rally started with a Morning Megastar pattern formed from a key enhance trendline, riding the market label up by 221%.
Initiating the rally at $0.00001717, BONK is at the moment trading at $0.00005525. It has posted an intraday invent of 5.89% and is on video display for its second consecutive bullish candle amid a largely passive market.
The rally has extended all over the final 16 days, with handiest three pink candles. The value has even reached a brand fresh all-time high of $0.000060. The use of Fibonacci phases, the uptrend has already surpassed the 1.272 stage and is now focusing on the $0.000062 (1.618) stage.
The elevated bullish sentiment is reflected within the obvious alignment of the 50-, 100-, and 200-day exponential transferring averages (EMAs). Additionally, the ADX line, which measures pattern energy, has crossed the 50% threshold, indicating solid momentum.
At disclose, the ADX is at 51.14%, surpassing earlier peaks of 42.51%. Significantly, the ADX has previously spiked above 90%, signaling valuable doable for persevered boost in BONK prices.
Perfect Whales Switch into BONK
As BONK’s bullish pattern accelerates, a whale with a video display file of profit from the PopCat meme coin is now shifting focus to BONK. The the same whale previously netted $4.84 million in earnings from PopCat. Over the final two days, this whale has invested $3.4 million USDC to accumulate 65.4 billion BONK tokens.
With the backing of a properly-positioned whale, self assurance in BONK’s doable for additional positive aspects has grown, critically rising the odds of a persevered uptrend.
BONK Sign Targets
Pondering the broader market boost, the uptrend at this meme coin is most likely to hit the 2.272 Fibonacci stage at $0.000080. This additionally will improve the odds of the meme coin reaching the $0.00010 psychological stamp.
On the flip side, the meme coin might per chance presumably also in discovering enhance at the psychological stamp of $0.000050.
