Key Points:
Solana Memecoin Launchpad Letsbonk’s 24-hour revenue surged to $1.04 million on Monday, nearly doubleping Pump.’s revenue, at $533,412.
Bonk’s (Bonk) Price has been rising sharply since Letsbonk was launched on April 25th. Can the meeting continue? Let’s analyze and explore the chart.
Bonk price forecast
Bonk emerged from $0.000011 on June 22nd, picking up momentum after surpassing Friday’s moving average.
The 20-day exponential moving average ($0.000017) begins to appear, with the relative strength index (RSI) in the positive region indicating that the Bulls are in the advantage.
If the buyer doesn’t give up much ground to the bear, the Bonk/USDT pair could reach an overhead resistance of $0.000026. This is an important level to note, as breaks above that complete the double bottom pattern. The pair can climb to a pattern target of $0.000041.
The 20-day EMA is an important support to be aware of the downsides. A 20-day below EMA break can keep the pair in the range of $0.000011 to $0.000026 for a while.
Related: Sol Price ‘Bull Chart’ targets $300 as Solana ETF approved odds hit 99.7%
The pair is pulled back under the 20-EMA on the 4-hour chart, indicating profit bookings by short-term buyers. The pair can immerse themselves in a 50% Fibonacci retracement level of $0.000020, and buyers are expected to intervene. Once the price recovers to $0.000020, the Bulls try to drive a pair that is over $0.000024 again.
Instead, if the price is under $0.000020, the pair could reach 50-SMA. Deeper corrections may delay the restart of UP moves.
This article does not include investment advice or recommendations. All investment and trading movements include risk and readers must do their own research when making decisions.
