Key Points:
BONK has experienced a pullback after a sharp rise, but there are no top signals visible on the price chart yet.
According to data aggregated by the decentralized finance platform DefiLlama, the 24-hour revenue of the Solana meme coin Launchpad project LetsBonk surged to $1.04 million on Monday, nearly double that of Pump.fun, which was $533,400.
Since the launch of LetsBonk on April 25, the price of Bonk (BONK) has significantly increased. Can the rebound continue? We will analyze this in conjunction with the charts.
BONK rebounded from $0.000011 on June 22 and accelerated its rise after breaking through the moving average last Friday.
The 20-day Exponential Moving Average (EMA) ($0.000017) has started to turn upwards, and the Relative Strength Index (RSI) is in the strong zone, indicating that the bulls are in control.
If buyers do not give up too much space, the BONK/USDT trading pair is expected to challenge the resistance level above $0.000026. This price level is crucial; if it breaks effectively, it will complete a "double bottom" pattern, and the pair may rise to the target price of $0.000041.
Attention should be paid to the support at the 20-day EMA below. If the price falls below this moving average, it may consolidate within the range of $0.000011 to $0.000026 for a while.
The four-hour chart shows that the trading pair has fallen below the 20-day EMA, reflecting short-term buyers taking profits. The price may retrace to the Fibonacci retracement level (50%) at $0.000020, where buying interest is expected to re-enter. If the price can rebound from $0.000020, the bulls will attempt to push the price above $0.000024 again.
Conversely, if the price falls below $0.000020, the trading pair may test the 50-day Simple Moving Average (SMA). A deeper correction could delay the resumption of the upward trend.
Related: Chinese Creditors Question FTX's Motion to Suspend Payments to Restricted Countries
Original: “Can the Rising Popularity of LetsBonk Push the Altcoin Above $0.000026?”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
