Bitcoin

Bonk

The post <a href="https://coinpedia.org/price-analysis/bonk-price-on-a-retest-elbow-room-for-buyers-at-lower-levels/">BONK Price On A Retest, Elbow Room For Buyers At Lower Levels!</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
Ending the week on a slightly bearish note with a pullback trend in motion, the BONK price shows a breather phase as buyers exhaust. Similar to Bitcoin taking a dip this weekend, the altcoins are preparing for a retest over the weekends to refuel the prevailing recovery rally.&nbsp;&nbsp; 
Despite the quick gain over this week and the last few months fueled by the listing gains over multiple top-notch exchanges, the <a href="https://coinpedia.org/price-prediction/bonk-price-prediction/">Bonk price prediction</a> remains optimistic. Further, the doge-themed Solana-based meme coin remains this week’s hot topic in the crypto world. Hence, the increased sentiments and growing community will positively impact the coming week.&nbsp;&nbsp;&nbsp; 
<figure class="wp-block-image size-large">
 <img decoding="async" width="1024" height="485" src="https://image.coinpedia.org/wp-content/uploads/2023/12/16155259/BONKUSD_2023-12-16_15-29-26-1024x485.png" alt="" class="wp-image-254049" srcset="https://image.coinpedia.org/wp-content/uploads/2023/12/16155259/BONKUSD_2023-12-16_15-29-26-1024x485.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/12/16155259/BONKUSD_2023-12-16_15-29-26-300x142.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/12/16155259/BONKUSD_2023-12-16_15-29-26-768x364.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/12/16155259/BONKUSD_2023-12-16_15-29-26-1536x727.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/12/16155259/BONKUSD_2023-12-16_15-29-26-150x71.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/12/16155259/BONKUSD_2023-12-16_15-29-26.png 1814w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
Source – <a href="https://www.tradingview.com/x/IRH9Dxbu/">Tradingview</a> 
In the 4H chart, the remarkable uptrend in the BONK price crossed the $0.000025 mark to challenge the $0.000036 resistance. However, the sharp rejection at higher levels due to the exhaustion of buying pressure, the meme coin takes a quick reversal.&nbsp; 
With long wick formation and an evening star, the BONK crypto price falls below the $0.000025 mark. However, the sideways-moving trend with long-range candles at $0.000025 teases a potential bounce-back opportunity if the buyers regain footing.&nbsp; 
Nevertheless, with the low volumes over the weekend and the correction in the larger market trend, the chances for a reversal in BONK price before retest seem minimal.&nbsp; 
Technical indicators:&nbsp; 
RSI: The RSI line shows a short-term pullback in the 4H chart and signals a breather phase. Further, as the BONK crypto corrects, it signals a minor increase in the selling momentum. Nevertheless, the overall trend remains positive, and the momentum indicator encapsulates the ongoing correction as a potential retest.&nbsp; 
<h2 class="wp-block-heading" id="h-will-bonk-price-cross-0-000035">Will BONK Price Cross $0.000035?</h2> 
As the overall market takes a dip, the Solana-based meme coin, BONK crypto price, also plunges by 24% to retest the $0.00025 mark. However, the BONK price trades at $0.000024793, forming a Doji candle with a 3.14% intraday gain.&nbsp; 
Further, the trend-based Fibonacci levels in the 4H chart show a potential retest to the $0.000020 mark. Moreover, the uptrend can reach the $0.000053 mark on the positive side.&nbsp;

BONK Price On A Retest, Elbow Room For Buyers At Lower Levels!

Table of Contents

CoinPedia News

Other articles published on Dec 16, 2023

VanEck CEO Predicts Record Bitcoin Highs in Next Year

Why Chainlink (LINK) May Drop Below $14 Amid Recent Occurrence

Meta Reaches Settlement With Qatari Billionaire In Crypto Scam Ad Case

Tokens.com Announces Filing Timeline for 2023 Annual Financial Statements

Worldcoin’s Ambitions Soar with OpenAI’s Altman Amid $50M Funding Stir

Steps from Tether to Cooperate with the US: They Incorporated the FBI and the US Secret Service i...

Join our free newsletter for daily crypto updates!