$BONK
🚨 Bonk Crypto’s Strong Rally Faces Key Resistance 🚨
Since early April, the BONK price action has shown strong bullish momentum, consistently forming higher highs and higher lows. The Bonk price’s sharp increase was due to accumulation at the base when relatively low FileName traders took out weak holders, giving the real buyers a chance to maneuver.
The alignment of the EMA 10, 20, and 50 on the daily chart was another bullish technical signal at press time. According to market analysis, “Price action remains firmly bullish as long as key support levels hold above $0.00001800,” said an analyst at Bitcoinsensus.
However, for the current month and year, Bonk appeared to be consolidating and experiencing a breakout at the yearly VWAP level.
It was trading slightly above $0.00001957 at press time and could break out. The volume remained high, but the candle bodies were small with long wicks. It suggested that the upsurge was cooling at the moment.