Bonk continues its bullish rally as ‘Uptober’ begins, sparking a bullish sentiment among investors after the recent fear of a major pullback. The memecoin sensation has kickstarted its Q4 journey positively, reclaiming crucial levels, with investors and crypto analysts forecasting a green weekly close.
In the past two weeks, Bonk has seen a remarkable performance, jumping 60% since September 15. The token broke above the multi-month downtrend line after successfully reclaiming the $0.000022 resistance level last Friday, registering a 38% surge in the past week. It also saw a 13% increase in Q3, trading around $0.000025 as October started.
Crypto trader Astekz noted that BONK’s consolidation above the breakout level is “giga bullish.” The token had a 13% increase in daily market activity, with a trading volume of $795.3 million. Crypto analyst Bluntz highlighted the token’s swift recovery and forecasted a ‘turbo green week,’ targeting the $0.000035 resistance level soon.
Other analysts noted the token’s movement within a symmetrical triangle since its March ATH, predicting a potential 70% rally towards the previous ATH of $0.000045. Investors believe the cryptocurrency could benefit from the market’s performance this ‘Uptober.’
Last October, BONK experienced a massive rally, closing Q3 2023 at $0.00014, a 6,900% surge. However, BONK saw a slight decline following Bitcoin’s dip and is currently trading at $0.00023, a 2.9% drop in the daily timeframe.
