BONK PRICE ANALYSIS & PREDICTION (March 25) – Bonk Registers Highest Daily Gain in Months Following 30% Rallies
Bonk Inu and a few other meme coins are in the spotlight today following a significant surge in the past 24 hours. While under a retracement, the trend may change if the demand level increases.
Following a slow and steady increase since the market suspended drops about two weeks ago, Bonk has seen a nice recovery as it continues to show strength daily.
Meanwhile, the last 24 hours have been impressive following a major price increase, recording its highest daily gain for the first time in almost months. Although the price was slightly rejected to where it is changing hands at $0.0000137 at the moment.
However, it is pertinent to note that the current buying phase is considered a retracement move of the previous bearish momentum. Therefore, we can expect selling pressure to resume shortly. As we can see on the daily chart, the current volatility appears low with choppy price actions compared to the main bearish impulsive movement
If the monthly low holds well in the course of selling, the price may bounce back with a bullish reversal pattern. That could restore bullish actions. Another thing to consider for a potential reversal is the current retracement. Retracing above the previous peak could set the stage for a big move. As it stands, Bonk still trades within the bears territory.
BONK’s Key Level To Watch
While today’s surge signals a rising demand, Bonk will likely target $0.0000156 in the next few days. If the price keeps increasing, the $0.0000197 and $0.0000244 resistance levels are the next buying targets to watch.
But considering yesterday’s rejection at $0.000015, the price may drop if the bears show up again. There’s close support at $0.0000114 in case of a pullback. Below this support lies $0.0000089 and $0.000008.
Key Resistance Levels: $0.0000156, $0.0000197, $0.0000244
Key Support Levels: $0.0000114, $0.0000089, $0.000008
- Spot Price: $0.0000137
- Trend: Bearish
- Volatility: Low
Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.
