Flow

Rally

Solana

Resistance

Bonk

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bonk-eyes-potential-price-rally" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bonk Eyes Potential Price Rally</a><br></p>
<p style="text-align: justify">Bonk (BONK) is making headlines due to its recent price decline and reduced trading volume. Despite this, the broader market outlook for the altcoin suggests a potential rebound <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">in the near future</a> as the price nears a significant support level. Bonk has been one of the top-performing memecoins since the start of the month and could see further gains if key support points hold.</p>
<h2 id="what-factors-could-drive-a-bonk-surge">What Factors Could Drive a Bonk Surge?</h2>
<p style="text-align: justify">A notable development is the U.S. Securities and Exchange Commission’s (SEC) decision to stop classifying <a href="https://en.bitcoinhaber.net/gsr-markets-predicts-solana-price-surge" data-wpel-link="internal" rel="noopener noreferrer nofollow">Solana</a> (SOL) as a security, which is considered a partial win for SOL. This shift may positively impact BONK as <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market conditions</a> become more favorable for a bullish trend.</p>
<p style="text-align: justify">Currently, BONK is priced at $0.00002637, reflecting a 5.1% dip over the past 24 hours. The altcoin remains above its 50-day and 200-day exponential moving averages (EMA), signaling a bullish trend. Additionally, the uptrend is supported by a rising trend line, underscoring a strong bullish outlook for Bonk.</p>
<h2 id="will-bonk-overcome-resistance-levels">Will BONK Overcome Resistance Levels?</h2>
<p style="text-align: justify">BONK faces minor resistance around $0.0000292. Surpassing this could propel the price by 30% to the next significant resistance at $0.00004, aligning with prior peaks and a crucial supply zone. Conversely, a price drop might find support at $0.0000255 (50-day EMA) and $0.0000225 (200-day EMA). Falling below these marks would invalidate the ascending triangle pattern.</p>
<h2 id="key-inferences-for-investors">Key Inferences for Investors</h2>
<p style="text-align: justify">Noteworthy insights include:</p>
<ul>
 <li>SEC’s decision on Solana could positively impact BONK.</li>
 <li>Bonk’s price stability above 50-day and 200-day EMAs indicates a bullish trend.</li>
 <li>Potential price surge if minor resistance at $0.0000292 is overcome.</li>
 <li>Support levels at $0.0000255 and $0.0000225 could act as safety nets.</li>
</ul>
<p style="text-align: justify">The Relative Strength Index (RSI) for BONK stands at 54.95, near the bullish zone, suggesting further upward potential. Chaikin Money Flow (CMF) at 0.06 also supports a positive outlook, indicating a favorable money flow towards Bonk and modest buying pressure.</p>
<p style="text-align: justify">Coinalyze data reveals that market participants are accumulating Bonk, although Open Interest (OI) has fallen by 4% in the past day. The Long/Short (L/S) ratio has risen by 11.11% in the last week, reaching 1.879, signaling that investors expect a price increase. Dune Analytics reports that Bonk has been among the top-performing memecoins over the past two weeks, with an 18.7% price increase, trailing only BOME and COQ.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bonk-eyes-potential-price-rally" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bonk Eyes Potential Price Rally</a></h5>

Bonk Eyes Potential Price Rally

Table of Contents

BH NEWS

Další články publikované 31. 7. 2024

Trump vs SEC (TRUMPSEC) Will Explode 19,000% Before Exchange Listings, While Shiba Inu and DOGE Lag

Analysts Are Optimistic On BONE Price: Is It Ready For A 5x Rally?

XRP Price Prediction: Ripple’s $1 Target Still Within Reach As Price Hits $0.64?

XRP Price Beats BTC: Surging Higher and Aiming for More

Layer 1 Blockchains Surge in Social Dominance, Signaling Market Optimism

BTCC Exchange Organizes Successful AMA with Crypto Empire on Reaching 13 Years of Safe Operating ...

Join our free newsletter for daily crypto updates!