BONK Advances 5% in V-Shaped Recovery as Bulls Eye Breakout

BONK, a Solana-based memecoin, completed a V-shaped recovery, gaining 4.65% to $0.00002202.

The determination followed a dip to $0.000020 connected July 9 astatine 15:00 UTC, wherever organization accumulation emerged to stabilize terms action.

The astir important upward momentum occurred betwixt 02:00 and 05:00 connected July 10, erstwhile BONK surged from $0.000021 to $0.000023, supported by a spike successful trading volume.

Indicators stay bullish, according to CoinDesk Research's method investigation model.

The 20-day exponential moving mean (EMA) has started to crook upward, portion the comparative spot scale (RSI) remains successful affirmative territory, suggesting that bulls clasp the precocious hand. Furthermore, BONK is nearing confirmation of a “golden cross,” wherever the 50-day EMA climbs supra the 200-day EMA. That's a signifier typically associated with semipermanent upward trends.

Looking ahead, interruption supra the $0.00002389 absorption level could accelerate gains toward $0.000026, which, if surpassed, would implicit a treble bottommost signifier and unfastened the doorway for a imaginable rally to $0.000041. Intermediate absorption lies successful the $0.00002577–$0.00002840 zone.

Technical Analysis Highlights

• V-shaped recovery: From $0.000020 to $0.00002202, up 4.65%.
• Current pullback: Trading adjacent $0.00002128, down 5.95% successful immoderate markets.
• Support zone: $0.000020 identified arsenic a reliable accumulation level.
• Resistance levels: $0.00002389 (immediate), $0.000026 (major), and $0.00002840 (upper consolidation range).
• Breakout target: A determination supra $0.000026 could task to $0.000041 connected treble bottommost confirmation.
• Indicators: 20-day EMA turning upward; RSI positive; aureate transverse near-confirmation betwixt 50-day and 200-day EMAs.

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