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Solana memecoin launchpad LetsBonk’s 24-hour income surged to $1.04 million on Monday, practically double the income of Pump.enjoyable at $533,412, in keeping with knowledge aggregated by decentralized finance platform DefiLlama.
Bonk’s (BONK) worth has rallied sharply because the launch of LetsBonk on April 25. May the rally proceed? Let’s analyze the charts to search out out.
BONK worth prediction
BONK turned up from $0.000011 on June 22 and picked up momentum after breaking above the shifting averages on Friday.
The 20-day exponential shifting common ($0.000017) has began to show up, and the relative power index (RSI) is within the constructive territory, indicating that the bulls are better off.
If patrons don’t cede a lot floor to the bears, the BONK/USDT pair might attain the overhead resistance of $0.000026. This can be a important degree to be careful for as a result of a break above it can full a double backside sample. The pair might then climb to the sample goal of $0.000041.
The 20-day EMA is the essential assist to be careful for on the draw back. A break beneath the 20-day EMA might hold the pair contained in the $0.000011 to $0.000026 vary for a while.
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The pair has pulled again beneath the 20-EMA on the 4-hour chart, indicating revenue reserving by the short-term patrons. The pair might dip to the 50% Fibonacci retracement degree of $0.000020, the place patrons are anticipated to step in. If the worth rebounds off $0.000020, the bulls will once more attempt to drive the pair above $0.000024.
As a substitute, if the worth skids beneath $0.000020, the pair might attain the 50-SMA. A deeper correction is prone to delay the resumption of the up transfer.
This text doesn’t include funding recommendation or suggestions. Each funding and buying and selling transfer includes danger, and readers ought to conduct their very own analysis when making a call.
