Bonk has experienced a strong correction in the past 30 days after losing 27% of its value. However, one trader recently shared a bullish Bonk price prediction that sees the token rising by more than 80% if a key support level holds.
Trading volumes have retreated slightly in the past 24 hours to $215 million but they still account for 13% of Bonk’s circulating supply.
The crypto market jumped exactly a week ago after the head of the Federal Reserve confirmed that the central bank will soon implement its first interest rate cut.
However, sellers have taken control of the price action this week and have flushed out a significant volume of long positions. Crypto liquidations in the past 24 hours are already surpassing $300 million.
Technical analysis shows that, as a result of this pullback, BONK is now hitting an area known as a ‘golden pocket’ where there is confluence between the 0.618 Fibonacci and a key daily support at $0.000022.
This is a high-value price zone from which the price could bounce strongly, offering a bullish Bonk price prediction of $0.000039.
Bonk Price Prediction: Descending Triangle Breakout Could Result in Explosive Move
Bonk (BONK) has been on a strong downtrend since it hit the $0.000040 resistance. The selling pressure has been strong enough to result in a 50% loss from that peak.
However, the daily price action confirms that BONK is on track to hit a key trend line support from which it could bounce strongly in the next few days.
A move toward $0.000039 would confirm a bullish Bonk price prediction. Meanwhile, a parabolic pattern favors a much stronger pus toward $0.000065 and then to $0.0001. If this scenario unfolds as expected, it could produce a 425% gain.
Meanwhile, even as the price has kept dropping, the Relative Strength Index (RSI) shows signs of plateauing as negative momentum may be losing steam.
This would mark the beginning of a market-wide recovery for meme coins and the top crypto presales like Maxi Doge ($MAXI) will benefit. This dog-themed token has raised nearly $2 million since its launch and could be the next crypto to 10X after it is picked up by top exchanges.
Maxi Doge ($MAXI) Fully Embraces the Hype That Comes With Crypto Bull Markets
Maxi Doge ($MAXI) is a new meme coin on the Ethereum blockchain that embraces the natural excitement that comes alongside a bull market like this.
This dog-themed token is what happens when a Shiba Inu takes too many Red Bulls and reads too many Reddit posts. Suddenly, it turns into a trading machine with an ‘up only’ attitude that only sees green candles in the future.
Through the Maxi Fund, up to 25% of the proceeds raised through the presale will be invested into the most promising tokens with up to 1000X leverage to make the most out of this cycle.
Maxi Doge doesn’t believe in stop loss orders and allows no red candles. The only way to go in this market is up.
To join the pump, you can buy $MAXI by visiting the official Maxi Doge website. Simply connect your wallet (e.g. Best Wallet) and swap either USDT or ETH for this token or use a bank card to invest.
Visit the Official Website Here
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