After a brief pullback, BONK is showing signs of renewed strength as bullish momentum begins to build. The recent price action indicates that bulls have regained control, pushing the token out of its recent slump. Traders are now eyeing a potential upside breakout, with BONK’s next targets becoming increasingly clear.
Recent technical indicators suggest bullish momentum for BONK. On the 4-hour chart, BONK’s price moved above the $0.00001792 resistance level and is trading above the 100-day Simple Moving Average. The 4-hour Relative Strength Index (RSI) shows a decrease to 59% but remains above 50%, signaling potential upward movement.
On the daily chart, a rejection wick on the present daily candlestick indicates that buyers are stepping in and pushing the price higher. Despite being below the 100-day SMA, this suggests diminished selling pressure. The 1-day RSI has climbed above the 50% threshold, indicating resumed upward movement.
Key resistance levels include the $0.00002320 mark, where previous price action has faced obstacles. If BONK breaks through this level, it could reach the next target of around $0.00002962. Conversely, significant resistance at $0.00002320 may lead to consolidation or testing of the $0.00001792 support level.
BONK is trading at about $0.00001803, showing a 2.33% decline over the last 24 hours. The market capitalization is roughly $1.2 billion, with a trading volume exceeding $128 million, marking decreases of 2.32% and 23.11%, respectively.
