BONK’s mark has surged by 24% as indicated on its weekly chart. This present upward walk brings the memecoin above the 20-day SMA pointing to a most likely transient bullish trend.
Market analysts are eager on BONK because it nears compulsory resistance at the upper Bollinger Band with expectations of a slump to the upside if the associated payment breaches with ranges.
Imprint Action and Pattern Analysis
BONK’s mark has bounced abet from a low of $0.00001766 discontinuance to the decrease Bollinger Band. This upward breakout has taken the associated payment above the 20-day SMA currently located at $0.00002117.
On the opposite hand, the uptrend regained momentum after a inexperienced candle started to manufacture suggesting a bullish reversal available within the market after an actual downtrend. BONK is now impending the Upper Bollinger Band at $0.00002468 to retest the resistance level.
Key Resistance and Toughen Levels
The upper Bollinger Band at $0.00002468 is now performing because the speedy resistance level for BONK.
Market consultants imply that if the present mark is in a space to interrupt above this level, BONK mark would possibly perchance perhaps hover to earlier highs thus attracting extra patrons.
Would perhaps perhaps win to gentle this resistance support, the associated payment would possibly perchance perhaps just enter a consolidation period as merchants abet extra indicators referring to its walk.
On the strategy back, the strengthen is at the 20-day SMA currently at $0.00002117, a level that would possibly perchance perhaps trigger procuring stress if the associated payment pulls abet.
The next key strengthen level is discontinuance to $0.00001766 in case of elevated selling stress. This construction suggests that there would possibly perchance be room for BONK to create bullish strikes.
BONK RSI and Doable for Additional Beneficial properties
As for the Relative Strength Index (RSI) indicator, a fairly bullish rate is viewed. The RSI is currently at 55.54. A pass about the 50 build implies that procuring stress is exceeding the selling stress and there would possibly perchance be ample room for added positive aspects earlier than it reaches the overbought zone.
The upward push in RSI from the oversold ranges is in accordance with the present bullish trend. Some users on X (beforehand Twitter) shared their predictions on BONK, asserting that the associated payment would possibly perchance perhaps just rally to a fluctuate of $0.001-$0.00015.
At that mark, BONK can win a market cap within the fluctuate of $7.forty eight billion–$11.22 billion. This bullish outlook demonstrates self assurance from the community contributors within the most likely extensive notify of BONK available within the market.
