Bonk price’s remarkable comeback continued this week, climbing to $0.000034, its highest level in over five months. This article provides a good Bonk forecast, highlighting whether it has a chance of reaching $0.1 in the near term.
Bonk Price Prediction As He Suddenly Awakens
Technical data points to more Bonk price predictions as the crypto bull run gains momentum. The coin has already flipped the important resistance point at $0.00002613, its October 1 high, into a support level.
It also formed a golden cross pattern, with the 50-day and 200 weighted moving averages (WMA) forming a bullish crossover. Historically, this trend often leads to more upside in the long term.
Bonk moved above the third resistance level of Woodie’s pivot point and the extreme breakout point of Murrey’s math lines.
More importantly, the coin retested the key resistance level at $0.000034, which coincided with the June high. After reaching this price in June, it pulled back and fell 55% to $0.0000155. The Supertrend also turned green, which is a popular bullish signal.
Therefore, for gains to continue, Bonk price must cross this level. If this happens, it will increase by 50% and reach the yearly high of $0.000044.
On the other hand, if it ends the day below $0.000028, it will signal that the coin has formed a shooting star pattern, a popular bearish reversal sign.
Bonk still has a long way to go to reach $0.1. With the coin trading at $0.000034, it needs to rise by 294,018%. While this is possible in the crypto industry, it is unlikely to happen in the short term.
Crypto Analysts Are Bullish on This Coin Solana Meme
Crypto analysts are growing more bullish Bonk Token will maintain its upward trend now that Bitcoin Price is on track to reach $100,000. Historically, meme coins tend to do better than BTC during bull runs.
In a post Zeroone popular crypto analyst noted that Bonk would eventually become a $30 billion asset. For this to happen, the coin must increase by 1,400%, and its price must reach $0.00042.
Bonk Price also jumped after being listed by Binance US. In a statement, the company said the BONK/USDT pair would begin trading on November 13, giving it access to thousands of customers. Historically, cryptocurrencies often go parabolic when listed on a major crypto exchange.
Bonk volume in the DEX industry is also skyrocketing. Data by Solscan shows that the volume has soared to over $60 million in the last two consecutive days.
Likewise, open interest on Bonk futures climbed to $16.6 million, the highest level since May 30, signaling that the coin is seeing demand from investors.
Frequently Asked Questions (FAQ)
With BONK price trading at $0.000034, moving to 0.1% requires a 294,000% jump, which is unlikely to happen anytime soon.
The initial price target for the BONK token is $0.000044, the highest level this year. A break above this level will bring up the next psychological level of $0.00005.
The most important target to watch will be $0.000026, its highest level on October 2 of this year.
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Disclaimer: Content presented may include the author’s personal opinion and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.
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