Bitcoin
Bitcoin (BTC)
$58,265.00 1.05009
Bitcoin price
Ethereum
Ethereum (ETH)
$3,138.81 0.26859
Ethereum price
BNB
BNB (BNB)
$533.45 0.96884
BNB price
Solana
Solana (SOL)
$139.02 0.02054
Solana price
XRP
XRP (XRP)
$0.4623240 4.20427
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000165 0.32096
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000089 -3.5398
Pepe price
Bonk
Bonk (BONK)
$0.0000229 -8.28212
Bonk price
Bitcoin
Bitcoin (BTC)
$58,265.00 1.05009
Bitcoin price
Ethereum
Ethereum (ETH)
$3,138.81 0.26859
Ethereum price
BNB
BNB (BNB)
$533.45 0.96884
BNB price
Solana
Solana (SOL)
$139.02 0.02054
Solana price
XRP
XRP (XRP)
$0.4623240 4.20427
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000165 0.32096
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000089 -3.5398
Pepe price
Bonk
Bonk (BONK)
$0.0000229 -8.28212
Bonk price
Bitcoin
Bitcoin (BTC)
$58,265.00 1.05009
Bitcoin price
Ethereum
Ethereum (ETH)
$3,138.81 0.26859
Ethereum price
BNB
BNB (BNB)
$533.45 0.96884
BNB price
Solana
Solana (SOL)
$139.02 0.02054
Solana price
XRP
XRP (XRP)
$0.4623240 4.20427
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000165 0.32096
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000089 -3.5398
Pepe price
Bonk
Bonk (BONK)
$0.0000229 -8.28212
Bonk price
Bitcoin
Bitcoin (BTC)
$58,265.00 1.05009
Bitcoin price
Ethereum
Ethereum (ETH)
$3,138.81 0.26859
Ethereum price
BNB
BNB (BNB)
$533.45 0.96884
BNB price
Solana
Solana (SOL)
$139.02 0.02054
Solana price
XRP
XRP (XRP)
$0.4623240 4.20427
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000165 0.32096
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000089 -3.5398
Pepe price
Bonk
Bonk (BONK)
$0.0000229 -8.28212
Bonk price

Chart of the Week: Is BONK about to skyrocket?

chart-of-the-week-is-bonk-about-to-skyrocket
Edited by
Markets
Chart of the Week: Is BONK about to skyrocket?

Bonk (BONK) has been making waves with a 26.42% surge in the past week, capturing the attention of traders and analysts alike. As key technical indicators flash bullish signals, could BONK be on the verge of an explosive breakout? With the price nearing critical resistance levels and a bullish harmonic pattern emerging, the stage is set for a potential major move.

Chart of the Week: Is BONK about to skyrocket? - 1

Technical Indicators

Resistance and Support Levels

  • Current resistance: $0.00002
  • Next resistance: $0.000025
  • Support level: $0.00002 – $0.000021
Chart of the Week: Is BONK about to skyrocket? - 2

Moving Average Convergence Divergence (MACD)

The MACD indicator has turned bullish. This occurs when the MACD line crosses above the signal line, indicating a potential upward momentum in the price.

Chart of the Week: Is BONK about to skyrocket? - 3

Relative Strength Index (RSI)

The RSI has broken through the downward trendline and is currently at 44, indicating a shift toward bullish momentum. Historically, this level has acted as resistance, and breaking above it suggests further gains.

Chart of the Week: Is BONK about to skyrocket? - 4

Harmonic Pattern: Deep Crab

The chart shows a Deep Crab harmonic pattern, typically signaling a bullish price movement. The price has reached the first profit target at the 23.6% Fibonacci retracement level of $0.000024343 but has not yet closed above it.

Chart of the Week: Is BONK about to skyrocket? - 5

Fibonacci Analysis

The Fibonacci retracement from the low on April 13 to the high on May 28 identifies a golden pocket between $0.0000236245 and $0.0000246596. This aligns with the 23.6% retracement from both the June 24 low to the June 28 high and the May 28 high to the June 24 low. The confluence suggests a critical level for BONK to break through.

Chart of the Week: Is BONK about to skyrocket? - 6

Strategy

Given the current analysis, a cautious approach is recommended:

  • Entry Point: Wait for a confirmed breakout above $0.000025 before entering a long position.
  • Alternative Entry: Consider entering between $0.00002 and $0.000021 if the price fails to break through $0.000025 and retraces back.

Profit Targets

If BONK breaks out and closes above the psychological price point of $0.000025, the profit targets are:

  • First profit target: $0.000026
  • Second profit target: $0.000028
  • Third profit target: $0.00003

Each level must be confirmed with a candle closing above it to validate the next target.

Final Notes

It’s important to remain vigilant as meme coins like BONK are highly volatile and may not always adhere to logic or technical analysis. Adjust positions accordingly based on market movements.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.