Crypto ideas

07/26 12:22

BONK Price chart analysis  From a price chart’s p

BONK Price chart analysis 

From a price chart’s perspective, the prevailing cool-off has been happening at a key area around the Fibonacci retracement level. Notably, BONK has been consolidating its recent gains too, despite a spike in profit-taking. 

However, bulls can only have a market edge if they turn the 1.618 Fib level ($0.000036) into support. Securing the level as the next springboard could trigger another 46% upswing to $0.000052. 

Otherwise, a pullback to $0.000025 and May’s high could be feasible if the bulls falter.

Still, these could be the buying opportunities for spot players if the broader market sentiment remains positive ahead of September’s expected Fed rate cuts. 

A break below May’s high would dent the market structure and embolden short sellers. 

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