If successful, BONK could reach the 50% Fibonacci retracement level at $0.0000025, opening the door for even higher gains. This bullish reversal can be attributed to factors such as the MACD indicator supporting upward momentum and a rising wedge pattern formation.
Despite recent gains, BONK faces a challenge in overcoming resistance near the 38.2% Fibonacci retracement level at $0.000002265. #news #crypto #BONK
Analysts predict that BONK could potentially reach the $0.000041 mark, bolstered by the current meme coin trend and positive technical analysis.
However, short-term volatility and the potential for a retest of the falling channel pattern remain concerns.
The cryptocurrency BONK has experienced a significant 25% boost in price, breaking through a key resistance level and signaling potential for further gains. As the meme coin trend regains traction, BONK’s performance will be closely watched in the coming weeks.
