In the volatile world of meme cryptocurrencies, Bonk has captured traders’ attention with a remarkable 60% rally from its recent lows, stirring speculations about a larger pump on the horizon.
This surge comes amidst a frenzy of trading activity, with the Bonk price today at $0.000014 and a 24-hour trading volume soaring past $241 million. Currently ranked #75 by market cap, Bonk’s market valuation hovers around $862 million.
With a circulating supply of over 63 trillion coins, and whispers of bullish sentiment in online forums, the question on everyone’s mind is: Could this be the precursor to a more substantial price spike? Investors are keenly watching the $0.00001421 pivot point.
Bonk Price Prediction
Analyzing the 4-hourly chart, the pivot point for Bonk is set at $0.00001421. The cryptocurrency faces immediate resistance at $0.00001561, with subsequent resistance levels at $0.00001701 and $0.00001800.
On the downside, Bonk’s immediate support is at $0.00001315, followed by stronger support levels at $0.00001200 and $0.00001101.
#BonkCoin‘s latest 4H chart points to a pivotal moment at $0.00001421, with potential resistance up to $0.00001800. With RSI at 54 and EMA trends suggesting bullish signals above $0.00001420, will #BONK test new highs or face resistance? #Crypto #TradingSignals #MarketWatch pic.twitter.com/AcKB2BTol4
— Arslan Ali (@forex_arslan) January 14, 2024
The Relative Strength Index (RSI), a key metric for assessing market momentum, is at 54 for Bonk. This level indicates a relatively balanced market, neither oversold nor overbought.
The 50-Day Exponential Moving Average (EMA), another critical indicator, is currently at $0.00001398, slightly below the current trading price.
The chart analysis reveals an upward channel pattern, supporting Bonk above the $0.00001420 mark. The formation of Doji candles above this level indicates a potential for a bullish trend.
Doji candles typically represent market indecision, but their placement above the support level suggests that buyers may be gaining strength.
Bonk Price Chart – Source: Tradingview
Considering these technical factors, the short-term forecast for Bonk appears bullish, especially if it maintains above the pivotal mark of $0.00001420. A sustained movement above this level could lead to testing the identified resistance levels.
Conversely, a drop below the pivot point might shift the market sentiment towards bearish, potentially leading to tests of lower support levels.
In conclusion, the technical outlook for Bonk is cautiously bullish in the short term, provided it remains above the pivot point of $0.00001420. Key resistance and support levels should be watched closely for indications of the coin’s future trajectory.
Sponge V2’s Exchange Listing Nears: Final Chance for Acquisition and Staking
Transitioning from Ethereum’s latest developments, Sponge V2 is rapidly approaching a critical juncture with its imminent exchange listing. Sponge V2‘s evolution from its predecessor is marked by substantial growth and innovation. The project introduces a novel staking mechanism where users can stake Sponge V1 tokens to earn Sponge V2.
The price has experienced a remarkable 3142.96% increase from its V1 launch price of $0.000025 to the current $0.000786.
Key Highlights:
Final Acquisition Chance: Last opportunity to buy and stake Sponge V2 before its exchange debut.
Staking with High Returns: Earn Sponge V2 tokens with an attractive 336% rewards offer.
Impressive Growth: Price escalated by 3142.96% from its initial launch.
Significant Stakes: Over $3.77 million in tokens staked and bridged.
Sponge V2 not only enhances the staking mechanism but also integrates a Play-to-Earn (P2E) game, expanding earning avenues through engaging gaming options.
Exclusive Earning: Gain $SPONGEV2 tokens exclusively through staking $SPONGE.
Passive Income: Starting APY of 40% on staked $SPONGE tokens.
Strategic Shift: Focus to shift predominantly to V2 after the listing, locking V1 stakes permanently.
As Sponge V2 prepares for its exchange listing, it is positioned to create waves in the meme coin market with its unique earning and gaming prospects. Seize this final chance to stake $SPONGE for earning Sponge V2 tokens ahead of its anticipated exchange listing.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
The post Bonk Price Prediction as BONK Bounces 60% From Recent Bottom – Bigger Pump Incoming? appeared first on Cryptonews.