9 hours ago
BONK is facing profit-booking adjacent $0.000026, but the pullback is apt to find buyers adjacent $0.000020.
Key point:
BONK has pulled backmost aft the crisp rally, but nary topping signs are disposable connected the charts yet.
Solana memecoin launchpad LetsBonk’s 24-hour revenue surged to $1.04 million connected Monday, astir treble the gross of Pump.fun astatine $533,412, according to information aggregated by decentralized concern level DefiLlama.
Bonk’s (BONK) terms has rallied sharply since the motorboat of LetsBonk connected April 25. Could the rally continue? Let’s analyse the charts to find out.
BONK terms prediction
BONK turned up from $0.000011 connected June 22 and picked up momentum aft breaking supra the moving averages connected Friday.
BONK/USDT regular chart. Source: Cointelegraph/TradingViewThe 20-day exponential moving mean ($0.000017) has started to crook up, and the comparative spot scale (RSI) is successful the affirmative territory, indicating that the bulls are astatine an advantage.
If buyers bash not cede overmuch crushed to the bears, the BONK/USDT brace could scope the overhead absorption of $0.000026. This is simply a important level to ticker retired for due to the fact that a interruption supra it volition implicit a treble bottommost pattern. The brace whitethorn past ascent to the signifier people of $0.000041.
The 20-day EMA is the important enactment to ticker retired for connected the downside. A interruption beneath the 20-day EMA could support the brace wrong the $0.000011 to $0.000026 scope for immoderate time.
Related: SOL terms ’bull chart’ targets $300 arsenic Solana ETF support likelihood deed 99.7%
BONK/USDT 4-hour chart. Source: Cointelegraph/TradingViewThe brace has pulled backmost beneath the 20-EMA connected the 4-hour chart, indicating nett booking by the short-term buyers. The brace could dip to the 50% Fibonacci retracement level of $0.000020, wherever buyers are expected to measurement in. If the terms rebounds disconnected $0.000020, the bulls volition again effort to thrust the brace supra $0.000024.
Instead, if the terms skids beneath $0.000020, the brace could scope the 50-SMA. A deeper correction is apt to hold the resumption of the up move.
This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision.
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