{"id":36463,"date":"2025-01-16T17:00:30","date_gmt":"2025-01-16T17:00:30","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=36463"},"modified":"2025-01-16T17:00:30","modified_gmt":"2025-01-16T17:00:30","slug":"bonk-price-ready-to-surge-1105-from-here-analyst-reveals-key-levels-to-watch","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=36463","title":{"rendered":"BONK Price Ready To Surge 1,105% From Here? Analyst Reveals Key Levels To Watch"},"content":{"rendered":"

The BONK price movements<\/a> have brought it close to a critical support level, and its reaction could make or break its price trajectory from there. A detailed technical analysis on the TradingView platform suggests that the cryptocurrency\u2019s current setup could lead to either a bullish breakout to retest its all-time high at $0.00005825 or a further decline below $0.00001497, depending on how price action unfolds in the coming days.\u00a0<\/p>\n

Descending Channel And Double Bottom Pattern For BONK<\/h2>\n

Meme cryptocurrency BONK has largely been trading within a descending channel for the past three months<\/a>, which has been characterized by the formation of lower highs and lower lows on the daily candlestick timeframe chart. This descending channel pattern kickstarted after BONK reached <\/a>a new all-time high of $0.00005825 on November 20, 2024.\u00a0<\/p>\n

As noted by the analyst on TradingView<\/a>, the BONK price is currently showing signs of a healthy retracement after rejecting at a lower high within the descending channel. This retracement has now seen the meme coin at a critical support zone around $0.000026 within the descending channel. Interestingly, the retest of this support zone hints at the possibility of a double bottom pattern, as the price chart shows BONK had bounced off this zone on December 20, 2024.\u00a0<\/p>\n

The double bottom is the bullish scenario for the BONK price. However, the analyst highlights that confirmation on lower timeframes is essential for this double-bottom scenario to materialize. Specifically, a bullish Internal Change of Character (I-CHoCH) within the current support zone would signal that buyers are re-entering the market, which would increase the likelihood of a breakout from the descending channel.<\/p>\n

Key Price Levels To Watch For BONK Price<\/h2>\n

The $0.000026 level is highlighted as a critical support <\/a>level to keep an eye on in the coming days to see how it eventually plays out for BONK. Should BONK manage a rebound from this level, the first step toward a sustained bullish move would be to break above the upper trendline of the descending channel, which would be anywhere between $0.000030 and $0.000031.<\/p>\n

Upon confirming the breakout, the analyst identified several resistance levels<\/a> that BONK would encounter on its path to a new all-time high. These levels include $0.00003657, $0.00004754, and a strong resistance point at $0.00006340.<\/p>\n

However, the analyst also points out that there remains a risk of further retracement or even panic selling, especially if BONK fails to exhibit bullish confirmations through an I-CHoCH in the lower timeframes. This scenario could cause a break below $0.000026 to reach another strong support zone, where a similar I-CHoCH confirmation would still be necessary to validate a potential bounce. Without these confirmations, the bullish outlook could be invalidated.<\/a><\/p>\n

At the time of writing, BONK is trading at $0.00002863 and is up by 5% in the past 24 hours.<\/p>","protected":false},"excerpt":{"rendered":"

The BONK price movements have brought it close to a critical support level, and its reaction could make or break its price trajectory from there. A detailed technical analysis on the TradingView platform suggests that the cryptocurrency\u2019s current setup could lead to either a bullish breakout to retest its all-time high at $0.00005825 or a […]<\/p>\n","protected":false},"author":0,"featured_media":36464,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-36463","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/36463"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=36463"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/36463\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/36464"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=36463"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=36463"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=36463"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}