Meme coins like Bonk (BONK) and Floki (FLOKI) continue to surge strongly with double-digit increases since Sunday, far surpassing the overall recovery rate of the market in the past 24 hours. Meanwhile, Celestia (TIA) also made its mark among the leaders thanks to a slight increase and maintaining its gains from the weekend, although it is still struggling before a key resistance level. Overall, the technical signals from the strongest coins reflect that market sentiment is leaning towards a bullish trend, especially with meme coins, while Celestia shows a technical picture that is not yet very clear.
Bonk makes an impressive recovery, heading towards the peak in May
Bonk (BONK) kicked off Monday morning with a slight increase of 3%, marking a series of 6 consecutive green candles on the daily chart – a rare positive technical signal. After a spectacular breakout from the downward wedge pattern and a remarkable increase of up to 46% last week, BONK is showing clear bullish momentum as it aims to retest the highest peak of May.
The developments during the day helped BONK regain the 78.6% Fibonacci retracement level at $0.00002218 – calculated from the bottom on April 7 ($0.00000886) to the peak on May 12 ($0.00002581). If the price maintains a close above this level, the meme coin could very well advance to the mark of $0.00002581 – the starting point of the previous downward wedge pattern.
Technically, the current uptrend is being reinforced by several positive signals. The MACD indicator shows that the MACD line has crossed above the signal line, and both have moved into positive territory – a clear sign of strong bullish momentum. At the same time, the green histogram continues to expand, reflecting an increasing bullish momentum.
The RSI index is currently at 74, having entered the overbought zone. This indicates that buying pressure is dominating, but at the same time, it raises a warning about the possibility of profit-taking pressure in the short term.
In the event that BONK cannot hold above the mark of $0.00002218, the possibility of the price turning back to test the 50% Fibonacci level at $0.00001734 is entirely possible.
Floki breaks out, hitting an important resistance level
Floki recorded an increase of more than 2% on Monday morning, extending an impressive 14% increase since Sunday. Notably, this meme coin has broken the downward channel pattern – with the upper trend line established from the peaks on May 12 and June 11 – opening up bullish prospects in the short term.
Currently, Floki is approaching the important resistance level at $0.00008807 – which is also the closing level of June 2. If this price range is decisively broken, Floki could target the June peak at $0.00009839.
Technical signals are leaning towards the bulls. The MACD line and the signal line are converging near the level of 0, while the histogram continues to expand positively – indicating increasingly strong bullish momentum.
The RSI index is also maintaining at 59 – above the average level but still with room before reaching the overbought zone, indicating that there is still potential for price increase.
However, if selling pressure unexpectedly dominates and the trading session ends in the red, FLOKI risks returning to last week's bottom around the mark of $0.00006948.
Celestia struggles within a sideways range
Celestia (TIA) recorded an impressive increase of 8.73% during Sunday’s trading session; however, the upward momentum was quickly halted below the important resistance level at $1.68 – the peak established on June 24. After breaking the downtrend channel structure (as shown in the chart below), TIA shifted to a sideways state, with short-term support at $1.31 – the lowest bottom in June.
If the price can overcome the barrier of $1.68 in the daily timeframe, the recovery trend will be more clearly reinforced. At that point, the level of $1.93 – the bottom on June 5 – will be the next target before aiming for the psychological level of $2.
The MACD indicator is signaling positively as the recovery momentum gradually forms. However, to confirm a solid bullish reversal trend, both the MACD line and the signal line need to break into positive territory.
The RSI index is currently at 48 – below the average level of 50 – reflecting that market sentiment remains cautious and the uptrend is not yet very clear.
Conversely, in a negative scenario, if TIA fails to maintain the upward momentum and turns down, the price could once again test the support area of $1.31, extending the sideways accumulation phase in the short term.