Coinbase’s rising star of recent times Bonk Inu After announcing the listing of Solana-based meme coin, it increased by over 52% in a very short time. In this context, it reached its all-time high (ATH) at $0.00001480 earlier today.
Popular meme coin The price traded in a tight range between $0.00000866 and $0.00000166 for a while. Then the price gained momentum and broke out of the range. However, the rally was short-lived as the price was capped at $0.000003458.
Following these developments, the BONK token traded in a closed range between $0.00000166 and $0.000003458 for more than a week. After many attempts, the bulls regained strength and recorded a 40% jump in value. Accordingly, the price traded in a consolidated range between $0.000003458 and $0.4945 for more than two weeks.
BONK price has increased significantly since December. Because the price jumped over 200% in the first week of the month. In this context, it recorded a new all-time high (ATH) of $0.00001450.
Following these, the bulls lost the momentum they gained and experienced a short sell in price value. All this resulted in the meme coin price being tested at the lower support level of $0.000009635. The price has recently gained 50% and is on the verge of recording a new ATH soon.
Koinfinans.com As we reported, the technical indicator MACD displays a rising green histogram, indicating strong buying and selling pressure in the market. Moreover, the average shows an upward convergence. This shows that the price will register a large price movement in the coming days.
Will Bonk Inu Price Reach $0.0000170 Soon?
It is possible for the bulls to sustain the price above the $0.000013051 support level. If this happens, the price will regain momentum and prepare to test the $0.000015010 resistance level in the coming days.
Moreover, if the bulls hold the price at this level, Bonk price will attempt to test the upper resistance level of $0.000017010 by the end of the month.
On the contrary, if the trend reverses, the meme coin price will lose serious momentum and begin to trade under a strong bearish effect. This will cause meme coin price to test the lower support level of $0.00001150.
In addition, it is possible that the bears will retain power. If this happens, it is possible for meme coin to experience further decline. In this context, it will soon be prepared to test the important support level of $0.000009635.