BONK Price May Find Support Near $0.000020 Amid Profit Booking, Bulls Eye $0.000026 Resistance

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.