BONK Price Above $50 Teases A Bull Run Stretching to $100
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With the Solana blockchain creating a huge buzz in the market, the Solana-based meme coin, BONK, is capitalizing on this opportunity. As the BONK price skyrockets overnight, the uptrend in action prepares a breakout rally ready to scale a new all-time high peak.
Moreover, the meme coin sector shows strong promise of a bounce back this week as the exhausted buyers are getting more confidence. Further, being one of the top meme coins, BONK could surpass the $0.000050 mark shortly. Find out more in our multi-year BONK Price Prediction.
Double Bottom Fuels This Meme Coin’s Rally
With the ongoing bull run taking a short pause in the daily chart, the BONK price prepares a strong pattern for a bounce back. Further, with the recent jump starting from the overnight hike, the meme coin is preparing an extension of the uptrend.
Source – Tradingview
The BONK price action shows a double bottom pattern forming in the daily chart with a neckline at $0.000037. Further, the meme coin shows a quick surge of 20% from last night, reflecting a boom in underlying demand.
Currently, the BONK price trades at $0.000034 with an intraday gain of 7.96%. With the recent comeback, the meme coin is preparing a double-bottom breakout rally to surpass the overhead resistance at $0.000046.
Technical indicators:
MACD: Despite the recent consolidation, the buyers find a last resort with this double bottom reversal to avoid a negative crossover in the MACD and signal lines. Thus, the average lines are preparing to surge back and reflect a rise in underlying demand.
Will BONK Price Break $0.000050?
Buyers are preparing for the next surge with the BONK price action showcasing a strong presence of demand at critical levels. Further, the bullish pattern breakout is aiming for a jump to cross $0.000050.
As per the trend-based Fibonacci levels, the neckline breakout can result in a rally to the $0.000046 mark. Thus, the chances of a price jump to $0.000050 are also increasing significantly.
Filed under: Bitcoin - @ March 14, 2024 8:18 am