Today, the BONK cryptocurrency is among the top gainers, rising by 9.5% and stabilizing at the $0.0000123 level. This rebound after a slump in meme-token markets has caught traders' attention.
Current Market Situation of BONK
As of writing, BONK is trading around $0.0000123. The token's all-time high was reached on November 20 last year at $0.00005916, which is 80% above the current price.
Analysis by Analyst $0uL
The analyst '$0uL', with an audience of 80k followers, explained the BONK price dynamics. According to him, the critical support level stood at $0.00001008, from where the price robustly rebounded. The primary focus now is on the resistance level at $0.00001427.
Key Resistance and Support Levels
The current support level is at $0.00001008, representing historical bear market lows. Key resistance levels are at $0.00001427 and $0.00002500. The next critical level is $0.00003443, connected to the December 2024 figures.
The analysis of trading charts suggests a possible trend reversal for BONK. Formation of a bullish candle on the weekly chart confirms the potential for a short-term price strengthening trend change.
