Bonk [BONK] Bulls Attempt to Flip July Resistance Level to Support After 10.8% Post-Dip Rally

Bonk coin showed remarkable strength despite the market-wide price drop in the past three days. This panic selling saw BONK retest the former range highs and continue its uptrend.

output: Meme coin Bonk [BONK] performed well relative to the market as sell pressure gripped the majority of cryptocurrencies. However, BONK also experienced a substantial short-term dip, which was quickly bought up by the bulls.

This buying pressure resulted in Bonk coin surging by 10.8% following the dip. However, the bulls faced a resistance level that had not been breached since July - Could they clear this level soon?

Bonk coin showed remarkable strength despite the market-wide price drop.

A resistance level that has not been breached since July stood in the way of the bulls - Could they clear this level soon?

Range breakout and retest boosts bullish hopes

Source: BONK/USDT on TradingView

Bonk coin showed remarkable strength despite the market-wide price drop in the past three days. This panic selling saw BONK retest the former range highs and continue its uptrend.

At press time the token was trading at $0.0000248, just beneath the $0.000025 resistance level.

Despite the strong bullishness of Bonk coin in recent weeks, it should be remembered that the higher timeframe trend is downward. This is exemplified by the Fibonacci retracement level resistances at $0.000025 and $0.0000293.

The RSI was at 73, but it risked forming a bearish divergence if it fails to climb past 74.69 in the coming days. If this happens it could be an early signal of a local top and an impending retracement.

Liquidation heatmap shows upside target

Source: Coinglass

The liquidation heatmap of the past two weeks showed that the $0.0000263 zone is the next short-term target for Bonk coin. The technical indicators were strongly bullish and the recent volatility that rocked the market did not affect BONK too badly.

Realistic or not, here’s BONK’s market cap in BTC’s terms

While unlikely, in the case of rejection at $0.0000252 and a short-term downtrend, the $0.0000211 is the next magnetic zone of interest to the south.

AMBCrypto’s analysis showed that a move toward and past the $0.0000263 is the expectation for this week.input: Meme coin Bonk [BONK] performed well relative to the market as sell pressure gripped the majority of cryptocurrencies. However, BONK also experienced a substantial short-term dip, which was quickly bought up by the Meme coin.

This buying pressure resulted in Bonk coin surging by 10.8% following the dip. However, the bulls faced a resistance level that had not been breached since July - Could they clear this level soon?

output: Meme coin Bonk [BONK] performed well relative to the market as sell pressure gripped the majority of cryptocurrencies. However, BONK also experienced a substantial short-term dip, which was quickly bought up by the bulls.

This buying pressure resulted in Bonk coin surging by 10.8% following the dip. However, the bulls faced a resistance level that had not been breached since July - Could they clear this level soon?

Bonk coin showed remarkable strength despite the market-wide price drop in the past three days. This panic selling saw BONK retest the former range highs and continue its uptrend.

At press time the token was trading at $0.0000248, just beneath the $0.000025 resistance level.

Despite the strong bullishness of Bonk coin in recent weeks, it should be remembered that the higher timeframe trend is downward. This is exemplified by the Fibonacci retracement level resistances at $0.000025 and $0.0000293.

The RSI was at 73, but it risked forming a bearish divergence if it fails to climb past 74.69 in the coming days. If this happens it could be an early signal of a local top and an impending retracement.

Liquidation heatmap shows upside target

Source: Coinglass

The liquidation heatmap of the past two weeks showed that the $0.0000263 zone is the next short-term target for Bonk coin. The technical indicators were strongly bullish and the recent volatility that rocked the market did not affect BONK too badly.

While unlikely, in the case of rejection at $0.0000252 and a short-term downtrend, the $0.0000211 is the next magnetic zone of interest to the south.

AMBCrypto’s analysis showed that a move toward and past the $0.00002

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