BONK Token Eyes 100% Rally Amid Key Technical Formations
The BONK token is testing a key support zone, indicating a potential easing of selling pressure. Significant accumulation by large holders—around 80 billion tokens—suggests bullish potential.
Price Analysis
- BONK/USD is forming a symmetrical triangle on the daily chart, often preceding breakout scenarios.
- A double-bottom pattern near the support zone indicates possible exhaustion of selling pressure.
- Trading around $0.00001889, a successful breakout could target $0.0000376, suggesting over 100% upside.
- RSI at 37.35 signals oversold conditions, supporting rebound potential. MACD shows convergence, hinting at upward momentum if confirmed.
- If BONK breaks below the ascending support, it could fall to $0.00000696, marking a 64% decline.
Potential for 100% Rally
- The combination of technical indicators suggests a potential breakout for BONK.
- Traders should watch for volume spikes and resistance breakouts for confirmation.
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