BONK demonstrates bullish sentiment today with a 14.8% increase. Technical indicators suggest further potential price gains.
BONK Price Chart Analysis
BONK is trading at $0.00002203, indicating a new bullish trend. It is above the 20-day Simple Moving Average, signifying a short-term rally. If this trend continues, the SMA will serve as a support level. Immediate resistance is at the upper Bollinger Band at $0.00002494.
Bollinger Bands and Volatility
At $0.00002203, BONK is nearing the upper Bollinger Band, which may act as resistance. Should the price fall, the middle Bollinger Band at $0.00002125 may offer support. The lower Bollinger Band at $0.00001756 provides stronger support in case of a notable dip.
Bullish Wave Formation and Analyst Views
Analyst ManofBitcoin suggests that BONK is in the early stage of a bullish Elliott wave. The first target level is $0.0000262, with the wave-3 target at $0.0000899. Breaking these levels might lead to a stronger uptrend.
The overall market condition suggests that BONK is recovering quickly. A daily close above $0.0000227 could confirm a bullish trend.
