The post BONK price prediction: Next stop $0.000017? appeared on BitcoinEthereumNews.com.

  If the memecoin maintains its strength and upward momentum, it could rally another 60% to reach $0.000026. Traders are over-leveraged at $0.00001261 on the lower side and $0.00001419 on the upper side. After a significant price decline, Bonk [BONK] appears to be shifting market sentiment and is now poised for massive upside momentum. Data reveals that the memecoin has steadily declined by 76% since November 2024. Amid this downturn, BONK has successfully retested its crucial support level at $0.0000102 and formed a Doji candle on the weekly timeframe, signaling a potential price reversal. However, the memecoin has already begun moving upward and recently breached mild resistance near the $0.000013 mark. At press time, BONK was trading near $0.0000138, registering an 8% gain in the past 24 hours. Technical analysis and price action of memecoin Within a day, BONK’s trading volume increased by 110%, showing heightened participation from traders and investors. AMBCrypto’s technical analysis indicates a bullish outlook for BONK after its breakout above a key resistance level. The token is now positioned for a 22% upside move, aiming for the next resistance at $0.000017. This level previously served as an important support, further reinforcing its significance in the current market trend. Source: TradingView If the memecoin sustains its strength and momentum, BONK could rally 60% and reach $0.000026 in the coming days. Despite its bullish movement, BONK remains below the 200 Exponential Moving Average (EMA) on the daily timeframe, indicating a downtrend. Source: TradingView Bullish on-chain metrics  With a bullish outlook, investors and long-term holders have been accumulating the memecoin, as reported by the on-chain analytics firm Coinglass. Data from Spot Inflow/Outflow reveals that exchanges across the crypto landscape have begun experiencing significant outflows, indicating potential accumulation by long-term holders. At the time of writing, the exchanges have recorded…

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Filed under: News - @ March 24, 2025 9:28 pm