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BONK's Bullish Momentum and Key Resistance Levels

BONK has surged nearly 60% in a week, driven by positive sentiment and potential technical indicators like a Golden Crossover. This Solana-based meme coin is gaining attention, but the question remains: can it surpass the critical resistance at $0.00002840? Arkham's one-year netflow chart indicates more BONK is exiting exchanges than entering, suggesting an accumulation phase rather than selling pressure. Over the past month, netflows have stabilized, reflecting a neutral-to-bullish outlook. The recent price increase hints at a supply crunch, with sentiment outpacing spot inflows. The Elder Ray Index has turned bullish, indicating buyers are regaining control. A significant indicator to monitor is the upcoming Golden Crossover, where the 50-day EMA is set to cross above the 200-day EMA, often signaling bullish trends. Currently, BONK is consolidating around $0.00002203, with resistance levels at $0.00002577 and $0.00002840. A breakout above these levels could lead to targets of $0.00003670, while a drop below $0.00001806 would weaken the bullish case.#DayTradingStrategy #BreakoutTradingStrategy #BONK🔥🔥 #BTCBreaksATH $BONK