Flow

Rally

Solana

Resistance

Bonk

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bonk-eyes-potential-price-rally" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bonk Eyes Potential Price Rally</a><br></p>
<p style="text-align: justify">Bonk (BONK) is making headlines due to its recent price decline and reduced trading volume. Despite this, the broader market outlook for the altcoin suggests a potential rebound <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">in the near future</a> as the price nears a significant support level. Bonk has been one of the top-performing memecoins since the start of the month and could see further gains if key support points hold.</p>
<h2 id="what-factors-could-drive-a-bonk-surge">What Factors Could Drive a Bonk Surge?</h2>
<p style="text-align: justify">A notable development is the U.S. Securities and Exchange Commission’s (SEC) decision to stop classifying <a href="https://en.bitcoinhaber.net/gsr-markets-predicts-solana-price-surge" data-wpel-link="internal" rel="noopener noreferrer nofollow">Solana</a> (SOL) as a security, which is considered a partial win for SOL. This shift may positively impact BONK as <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market conditions</a> become more favorable for a bullish trend.</p>
<p style="text-align: justify">Currently, BONK is priced at $0.00002637, reflecting a 5.1% dip over the past 24 hours. The altcoin remains above its 50-day and 200-day exponential moving averages (EMA), signaling a bullish trend. Additionally, the uptrend is supported by a rising trend line, underscoring a strong bullish outlook for Bonk.</p>
<h2 id="will-bonk-overcome-resistance-levels">Will BONK Overcome Resistance Levels?</h2>
<p style="text-align: justify">BONK faces minor resistance around $0.0000292. Surpassing this could propel the price by 30% to the next significant resistance at $0.00004, aligning with prior peaks and a crucial supply zone. Conversely, a price drop might find support at $0.0000255 (50-day EMA) and $0.0000225 (200-day EMA). Falling below these marks would invalidate the ascending triangle pattern.</p>
<h2 id="key-inferences-for-investors">Key Inferences for Investors</h2>
<p style="text-align: justify">Noteworthy insights include:</p>
<ul>
 <li>SEC’s decision on Solana could positively impact BONK.</li>
 <li>Bonk’s price stability above 50-day and 200-day EMAs indicates a bullish trend.</li>
 <li>Potential price surge if minor resistance at $0.0000292 is overcome.</li>
 <li>Support levels at $0.0000255 and $0.0000225 could act as safety nets.</li>
</ul>
<p style="text-align: justify">The Relative Strength Index (RSI) for BONK stands at 54.95, near the bullish zone, suggesting further upward potential. Chaikin Money Flow (CMF) at 0.06 also supports a positive outlook, indicating a favorable money flow towards Bonk and modest buying pressure.</p>
<p style="text-align: justify">Coinalyze data reveals that market participants are accumulating Bonk, although Open Interest (OI) has fallen by 4% in the past day. The Long/Short (L/S) ratio has risen by 11.11% in the last week, reaching 1.879, signaling that investors expect a price increase. Dune Analytics reports that Bonk has been among the top-performing memecoins over the past two weeks, with an 18.7% price increase, trailing only BOME and COQ.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bonk-eyes-potential-price-rally" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bonk Eyes Potential Price Rally</a></h5>

Bonk Eyes Potential Price Rally

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