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Bonk prices were done back and forth in May, and the cryptocurrency is now basically as the month began. Recent prices reveal that the distinctive symbol is trying to settle in about 200 EMA after its rejection from the highest local level near the level of 0.00002581.
This rejection led to the withdrawal of a size of about $ 0.00001820. However, according to technology Analysis on the TradingView platformThe recovery appears to be a bullish continuing preparation with a 77 % corrective step instead of indicating a declining reflection.
The budget market structure carries a firm for Bonk
The decline in Buck prices brought it directly to a heavy technical interest. At the heart of this convergence is 200 EMA on the time frame for 4 hours, which can be technically the next support area of the Mimi currency that moves forward. In addition, the decline is in line with the level of 0.618 Fibonacci, which is common It is associated with upscale corrections. It is also in line with the daily support area about 0.00001832 to 0.00001841 dollars and a resistance area of about 0.00002034 dollars.
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Interestingly, this movement has led to unification between these levels since May 15, and according to TradingView analyst, the price structure indicates that buyers intervene to defend the direction. This, in turn, led to the formation of a higher decrease.
From the point of view of the volume, each upward batch has shown its high size since the first week of April. However, the recent decline occurred on its size, and grilled from the fatigue from the sellers.
77 % move ascending if a bonk is broken over the resistance
Even with the current range, Bonk is It is still inside the upscale preparationIt can be sent by a new 2025 hat and perhaps towards its current levels at all. The important level of viewing now is the resistance of the control point (POC) at about 0.00001955 dollars. This level was previously a pivotal point before withdrawing, and is now working as a threshold for the upcoming continuation.
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The confirmed closure over this area is likely to move a rapid expansion towards the next resistance group about $ 0.00002581, before eventually reaching the expected goal of $ 0.00003243, which will lead to its availability near January 2025, which is 0.000035 dollars. As such, the expected goal if these plays will be translated into a crowd of 77 %. The target price also corresponds to a A previous swing at a height January 15 and January 18.
At the time of writing this report, Bonk is trading at $ 0.00001995, an increase of 1.6 % over the past 24 hours. His reaction here, above POC resistance, will be an important crucial factor. If buyers The pressure is able to keep the pressure And securing a decisive outbreak, the stage can be adjusted on a strong gathering in the upper resistance range and re -testing the high bonck 2025.
Distinctive photo of Shutterstock, Chart from TradingView.com
