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Bonk

The post <a href="https://coinpedia.org/price-analysis/bonk-price-on-a-retest-elbow-room-for-buyers-at-lower-levels/" rel="noopener noreferrer nofollow">BONK Price On A Retest, Elbow Room For Buyers At Lower Levels!</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">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/" rel="noopener noreferrer nofollow">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;
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 <img 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="">
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Source – <a href="https://www.tradingview.com/x/IRH9Dxbu/" rel="noopener noreferrer nofollow">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!

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