The price of BONK, a memecoin, has surged by 24% and is now above the 20-day SMA, indicating a possible short-term bullish trend. Market analysts are watching BONK as it approaches crucial resistance at the upper Bollinger Band, with the expectation that breaking through this level could lead to further upside. The price recently bounced back from a low near the lower Bollinger Band and is now testing the resistance level at the Upper Bollinger Band. If the price is able to break above this level, BONK could reach previous highs and attract more buyers. On the downside, there is support at the 20-day SMA, which could trigger buying pressure if the price pulls back. The RSI indicator is moderately bullish, with room for further gains before reaching the overbought zone. Some users have predicted that BONK could rally to a price range of $0.001-$0.00015, demonstrating confidence in its potential growth.
- Content Editor ( thecoinrepublic.com )
- 2024-11-09
BONK Approaches Key Resistance, Bullish Momentum Builds