Bonk Price Shows Early Reversal with 38% Volume Spike
Bonk (#BONK) shows early signs of reversal, currently trading at $0.00001506 after breaking above a six-week falling wedge and completing a harmonic pattern. Key points include:
- Harmonic setup terminated near historical support with Fibonacci levels.
- BONK is holding above the $0.00001450–$0.00001500 zone.
- Technical indicators are positive, reclaiming 20, 50, and 100 EMA clusters, now testing the 200 EMA.
- Targets for bulls: $0.000018, $0.000022, and $0.000026; downside risk if support fails includes $0.000013 and $0.000012.
On July 2, open interest increased by 15.57% to $12.63 million, and trading volume jumped 38.13% to $35 million, indicating renewed trader confidence. The Gen1 Solana Mobile reward program ends July 31, with over 17,500 allocations claimed, potentially reducing short-term circulating supply.
Additionally, the Solana-based trading bot project Snorter raised over $1.49 million in presale contributions, with tokens priced at $0.0971.
