Bonk crypto risks rejection at key resistance: breakout or correction within a pennant?
2025-07-10 17:18:56
Main Idea
Bonk cryptocurrency is facing a critical resistance zone, with potential for a breakout that could lead to significant price movement.
Key Points
1. Bonk is encountering a multi-layered resistance zone, including the 0.618 Fibonacci level and value area low.
2. A breakout above this resistance could signal a bullish move, while failure may lead to a short-term corrective phase.
3. The 0.618 Fibonacci retracement and value area low form a key support zone, providing a potential reset for Bonk's price.
4. The article mentions other memecoins like Floki and Shiba Inu, suggesting broader market interest in similar assets.
Description
Bonk is pressing into a multi-layered resistance zone. Without a breakout, price risks a pullback toward the lower boundary of its pennant structure, in line with the 0.618 Fibonacci and value area low. Bonk ( BONK ) is trading at a critical resistance region, one that is stacked with multiple technical confluences. The current price zone includes the point of control, value area high, high time frame resistance, and the upper dynamic trendline of a potential larger pennant structure. With price...
Latest News
- Best cryptocurrency to invest in 2025 – BONK, HYPE, TAO, FARTCOIN, PENGU, SUI, DOGE, NEIRO2025-07-10 21:12:08
- Pepe price prediction for July 2025: Up, down, or holding steady?2025-07-10 20:57:37
- Bitcoin price prediction July 2025: Will BTC hit new all-time highs this summer?2025-07-10 20:56:57
- Solana price prediction this week: can $160 spark the next leg up?2025-07-10 20:14:21
- Here’s why Bitcoin hit an all-time high and can run to $120k2025-07-10 19:46:09