Bonk Price Prediction: BONK Attempts to Break Above Buy Zone, Is This the Final Moment Before It Reaches $0.0000192765?

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The Bonk price jumped 5% over the past 24 hours to trade at $0.00001192 at press time as investors are confident the meme coin will surge soon.

The Bonk Price Attempts to Break Out of a Key Buy Zone

Daily chart for BONK/USDT (Source: TradingView)

The Bonk price is attempting to escape a historic buy zone. A break above $0.0000128480 in the next 72 hours may signal a long entry for traders. This could lead to the meme coin rising to the next major resistance level at $0.0000192765 in the following few days. Continued buy pressure could then elevate BONK above this threshold to potentially reach as high as $0.0000290295 in the short term.

This bullish thesis may be invalidated if the Bonk price drops below the negative trend line that had formed on its charts within the next 48-72 hours. In this alternative scenario, the crypto may be at risk of retesting the $0.0000088550 support. Dropping below this significant price point could then expose the crypto to the risk of plummeting to $0.0000031115 in the following couple of days.

Traders and investors will want to note that both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators on BONK’s daily chart are on the verge of triggering major bullish technical flags.

The MACD line is attempting to cross above the MACD Signal line. These two lines intersecting in the next 48 hours may signal that the Bonk price has entered into a positive trend. In addition to this, the RSI line is looking to cross bullishly above its Simple Moving Average (SMA) line. This potential cross could signal that buyers have gained the upper hand against sellers. If these technical flags are confirmed and validated, the Bonk price could soon start to climb to $0.0000192765.

The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Ecoinimist is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Author

Steven Walgenbach

Steven's passion for cryptocurrency and blockchain technology began in 2014, inspiring him to immerse himself in the field. He notably secured a top 5 world ranking in robotics. While he initially pursued a computer science degree at the University of Texas at Arlington, he chose to pause his studies after two semesters to take a more hands-on approach in advancing cryptocurrency technology. During this period, he actively worked on multiple patents related to cryptocurrency and blockchain. Additionally, Steven has explored various areas of the financial sector, including banking and financial markets, developing prototypes such as fully autonomous trading bots and intuitive interfaces that streamline blockchain integration, among other innovations.

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