Plunge

Rally

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Bonk

Spot

<img width="1200" height="578" src="https://coingape.com/wp-content/uploads/2024/01/Bq1LIdEs-e1704896432298.png" class="attachment-full size-full wp-post-image" alt="Bonk Price Prediction" decoding="async" style="float:right; margin:0 0 10px 10px;">
Bonk Price Prediction: The Solana-based memecoin Bonk has recently witnessed a significant inflow which led to a bullish from $0.00000934 low. In the last three days, the coin value surged 53.6% to currency traded at the $0.0000142 mark. This rebound appears to be influenced by the announcement of <a href="https://coingape.com/okx-lists-solanas-bonk-jito-spot-trading-pairs-price-rebound-ahead/">BONK being listed on the OKX</a> cryptocurrency exchange on January 8th. With the market’s increasing optimism towards <a href="https://coingape.com/bitcoin-etf-impact-on-the-btc-price-is-reducing-fast-traders-deleverage/">Spot Bitcoin ETF</a>, will the BONK price surpass $0.00002 in January? 
<h2 id="b-new-found-support-sets-bonk-rally-to-0-000025-b">New Found Support Sets BONK Rally to $0.000025</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">A V-shaped recovery backed by increasing volume indicates aggressive buying activity in the market</li> 
 <li style="font-weight: 400;" aria-level="1">A golden crossover between 50-and-200-day EMA should intensify buyers’ internet in BONK</li> 
 <li style="font-weight: 400;" aria-level="1">The intraday trading volume in Bonk is $571 Billion, indicating a 21% gain.</li> 
</ul> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/b/Bq1LIdEs.png" alt="Bonk Price Prediction" width="1946" height="937">
 <figcaption class="wp-caption-text">
 Bonk Price Prediction| TradingView Chart
 </figcaption>
</figure> 
<a href="https://coingape.com/markets/bonk-price-prediction-will-bonk-reach-0-000024-okx-listing/">BONK, a Solana-based memecoin</a> experienced a significant downturn in mid-December, retracing from its peak of $0.000035. This downturn resulted in a steep decline in its market value, dropping by 71.64% to a low of $0.00000992.&nbsp; 
<blockquote>
 Analyzing the 4-hour chart showcased the correction phase developed into a falling channel pattern which confined the price movement within two parallel walking trendlines. Amid the recent upswing, the buyers breached the overhead trendline of the channel pattern, suggesting a potential reversal of the previous downtrend.
</blockquote> 
With an intraday loss of 0.56%, the <a href="https://coingape.com/price/bonk/">BONK price</a> is heading to retest the recent reclaimed level of $0.0000135. If this level holds, the buyers may chase the potential target of chart patterns which are $0.0000175, $0.0000216, and $0.0000267. 
<h2 id="b-can-bonk-price-plunge-back-to-0-00001-b">Can Bonk Price Plunge Back to $0.00001?</h2> 
While the current market scenario sets a bullish outlook for BONK, the last correction wiped out approximately 75% of the gains made by investors during the November-December surge in BONK’s price, signaling the sellers are highly active in this asset. If the coin price fails to sustain the retest phase above the $0.0000135, the buyers will have a $0.00001-$0.00000992 demand zone to protect before witnessing a prolonged downfall. 
<ul> 
 <li aria-level="1">Exponential Moving Average: The BONK price jump above 100-and-200-day <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/">EMA</a> hints at a change in short-term trend.</li> 
 <li aria-level="1">Average Directional Index: A high ADX value of 37% reflects the coin holders may witness more correction ahead to replenish the exhausted bullish momentum.</li> 
</ul> 
<h3 id="related-articles">Related Articles:</h3> 
<ul> 
 <li><a href="https://coingape.com/blackrock-vaneck-files-updated-s-1-for-spot-bitcoin-etf-approval/">BlackRock And VanEck Files Updated S-1 For Spot Bitcoin ETF Approval</a></li> 
 <li><a href="https://coingape.com/markets/crypto-price-prediction-today-january-9-hnt-bonk-tia/">Crypto Price Prediction For January 9: HNT, BONK, TIA</a></li> 
 <li><a href="https://coingape.com/spot-bitcoin-etfs-preparing-to-start-trading-by-thursday-morning-report/">Spot Bitcoin ETFs Preparing To Commence Trading On Thursday Morning</a></li> 
</ul> 
The post <a href="https://coingape.com/markets/bonk-price-prediction-as-pattern-hints-end-correction-0-000025/">Bonk Price Prediction As Chart Pattern Hints End of Correction, Is $0.000025 Within Reach?&nbsp;</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Bonk Price Prediction As Chart Pattern Hints End of Correction, Is $0.000025 Within Reach?

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