BONK Price May Find Support Near $0.000020 Amid Profit Booking, Bulls Eye $0.000026 Resistance
2025-07-09 22:48:36
Main Idea
BONK price faces short-term profit-taking near $0.000026 but is likely to find support at $0.000020 amid strong Solana memecoin market activity, with key technical indicators suggesting potential bullish momentum.
Key Points
1. BONK’s price rebounded from $0.000011 on June 22, gaining momentum after surpassing key moving averages, with the 20-day EMA at $0.000017 showing an upward trajectory.
2. The RSI remains in bullish territory, indicating sustained buying pressure, with potential resistance near $0.000026 and a target of $0.000041 if broken.
3. Short-term profit-taking has caused a retracement below the 20-EMA on the 4-hour chart, with potential support at the 50% Fibonacci retracement level of $0.000020.
4. LetsBonk’s launch on April 25 boosted BONK’s market profile, generating $1.04 million in 24-hour revenue, nearly double that of Solana-based memecoins, enhancing liquidity and trading volume.
5. A breach below the 20-day EMA could confine BONK within a $0.000011 to $0.000026 trading range, signaling potential consolidation.
Description
BONK, the Solana-based memecoin, is experiencing profit-booking near $0.000026, yet technical indicators suggest potential support around $0.000020. Following a sharp rally since the launch of the LetsBonk platform, BONK’s price
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