The post BONK PRICE ANALYSIS & PREDICTION (November 8) – Bonk Jumps 20% Amid Fresh Surge As It signals A Potential Shift appeared on BitcoinEthereumNews.com.

As Bitcoin broke to a new high overnight, major meme coins like Bonk exploded massively and regained momentum after taking a downturn last month. It currently looks bullish while signalling a trend shift. Following several lower highs in the past months, Bonk Inu managed to stay above the $0.000015 level and recovered in September, although the bears showed up again last month and pulled the price to around $0.00017 the previous weekend. That level stood as support and the price bounced back yesterday with a sudden surge to $0.000023 a few hours ago. It faced rejection there and retraced briefly, though the price is still looking strong on the day. While the sudden surge in volatility reveals a rising demand in the last 24 hours, we can expect more surges if the bulls further show interest. Upon that, the meme coin may face a lot of obstacles on the way up. The primary barrier level to watch for more increase right now is the previous lower high of $0.000026 – marked in October. A successful surge through it could activate a short-term shift in the market structure. This could lead to a reversal pattern – a possible high and higher low movement – on the daily timeframe. Nevertheless, it is important to note that Bonk’s mid-term structure is still bearish despite the latest positive surge. While this bearish structure is currently suspended, the price must fall below September’s low to confirm a continuation. BONK’s Key Level To Watch Source: Tradingview If Bonk retakes the current daily high, it may advance to $0.000026, marked as resistance in September. Advancing bullish, the $0.0000295 and $0.000339 levels are higher resistance to watch for a shift. Losing grip above $0.0002, the price may pull back to $0.0000196 and potentially $0.00017 – considered as weekly…

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Filed under: News - @ November 8, 2024 2:23 am