- BONK Breaks Above 200-ay EMA ($0.01200) – a key bullish signal indicating trend reversal.
- Strong Reclaim of Mid-Range Structure shows growing buyer confidence and bullish sentiment.
- Volume and Daily Candle Closes Under Watch, crucial for confirming bullish continuation.
Bonk is showing a positive momentum and experiencing a surge in its price with the overall market. Bitcoin’s bullish momentum heated up the altcoin prices, including Bonk. Its price over the last week is up by 20% and over the last month is significantly up by 28%.
At the time of writing, Bonk’s price is $ 0.00001350, up by 15%, with a 24-hour trading volume of $ 237.28M and a market cap of $ 1.05B. With the bullish market conditions, Bonk is benefitting and aiming for higher price targets.
Source: Coinmarketcap
BONK Price Eyes $0.015 After Breakout
Bonk (BONK) has staged a sharp rally, breaking above the critical 200-day Exponential Moving Average (EMA) at $0.01200, a key signal of renewed bullish momentum.
This move completes a clean reclaim of the mid-range level, indicating buying strength as the token tries to turn around recent consolidation. The bullish close above that level has caught the eye of traders, with such a move usually indicating a technical change of sentiment from neutral to bullish.
The meme coin is now testing a critical level of $0.01380, which was a local top in early March. To sustain the bullish setup, breaking out of the $0.01280–$0.01300 range must be achieved.
Increasing volume, breaking the $0.01380 level, especially, could be a springboard for breaking through higher towards $0.01500. Without persistent momentum, however, the breakout could get stuck, making the $0.01380 resistance range a point of rejection.
Source: X
On the negative side, the first level of immediate support remains the 200 EMA ($0.01200), with the 100 EMA around $0.01130 nearby. The inability to remain higher than these points could render the bullish setup ineffective and push the meme coin towards lower supports.
Read More: SEI Rallies 8% as Market Turns Bullish, Eyes $2 Target in Next Expansion Phase
