BONK Advances 5% in V-Shaped Recovery as Bulls Eye Breakout
2025-07-10 15:43:24
Main Idea
BONK, a Solana-based memecoin, posted a 5% rally with bullish indicators signaling a potential breakout from consolidation, supported by technical analysis and institutional accumulation.
Key Points
1. BONK climbed 4.65% in a sharp recovery, forming technical support after a dip to $0.000020 on July 9.
2. Key resistance levels lie at $0.00002389 and $0.000026, with breakout targets as high as $0.000041.
3. The 20-day exponential moving average (EMA) has started to turn upward, while the RSI remains bullish, nearing a 'golden cross' pattern.
4. Support zone is identified at $0.000020, with immediate resistance at $0.00002389 and major resistance at $0.000026.
5. A move above $0.000026 could project to $0.000041 on a double bottom pattern.
Description
BONK, a Solana-based memecoin, completed a V-shaped recovery, gaining 4.65% to $0.00002202 . The move followed a dip to $0.000020 on July 9 at 15:00 UTC, where institutional accumulation emerged to stabilize price action. The most significant upward momentum occurred between 02:00 and 05:00 on July 10, when BONK surged from $0.000021 to $0.000023, supported by a spike in trading volume. Indicators remain bullish, according to CoinDesk Research's technical analysis model. The 20-day exponential m...
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