💥👀BONK Price Analysis: A Bearish Week-End with Potential for a Comeback- Right Time To Buy?
The BONK price, which ended the week with a slightly bearish trend with a pullback trend in motion, shows the breathing stage as buyers run out. Similar to Bitcoin's decline this weekend, altcoins are also preparing for a re-test over the weekend to fuel the dominant recovery rally.
Despite this week's rapid gain and fueled by the listing of earnings on multiple premium exchanges over the past few months, Bonk's price forecast remains optimistic. In addition, the doge-themed Solana-based meme coin continues to be the hot topic of this week in the crypto world. Therefore, growing emotions and growing community will positively affect the coming week.
On the 4H chart, the remarkable upward trend in the BONK price exceeded the resistance of $ 0.000025 and challenged the resistance of $ 0.000036. However, a sharp rejection at higher levels due to the exhaustion of buying pressure, the meme coin quickly reverses.
With the formation of a long wick and an evening star, the BONK crypto price falls below the $ 0.000025 mark. However, the tendency to move sideways with long-range candles at $0.000025 creates a potential recovery opportunity if buyers stand up.
Technical indicators:
RSI: The RSI line shows a short-term retreat on the 4H chart and indicates a respiratory phase. Also, as the BONK crypto recovers, it points to a small increase in selling momentum. However, the overall trend remains positive and the momentum indicator covers the ongoing correction as a potential re-test.
Will the BONK Price Exceed $0.000035?
While the overall market experienced a decline, the price of the Solana-based meme coin BONK crypto also fell by 24%, retesting the $ 0.00025 mark. However, the BONK price is trading at $ 0.000024793, creating a Doji candle that provides an intraday gain of 3.14%.
