Bulls Target 90% Rally with Fresh Whale Entry

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With a market cap of $2.894 billion, BONK is the 5th biggest meme currency in the crypto market. Currently, the BONK price is trading at $0.00003861, with a 19% surge in the past 24 hours.
BONK prepares for a massive rally upside as the bull run in meme coins continues. Following the 76% surge in the last 7 days, will the bull run in BONK result in an extended rally? Let’s find out in this BONK price analysis that it is filled with key technical insights and trend analysis.

BONK Price Analysis In the daily chart, the BONK price action reveals a triangle breakout rally gaining momentum. The breakout rally challenges the 100% Fibonacci level as it faces higher price rejection from $0.00004109.

With an intraday gain of 2.29%, it marks the 6th consecutive bullish candle in the making.

The bull cycle accounts for a price surge of 75% in the last 5-6 days. Furthermore, in tracing back to the ongoing bull cycle’s inception, it started with the morning star pattern near the support trend line.

Since then, the meme coin has increased by 124% in 10 days from the bottom of $0.00001580. As the uptrend challenges a crucial psychological mark of $0.000040 in attempts for a new 52-week high, the upside chances are significantly increasing.

Amid the surge in buying pressure, the 50-day and 200-day SMA lines are on the verge of a bullish crossover. The MACD and signal lines have gained a massive bullish gap due to the surge of positive histograms. Hence, the technical indicators maintain a buy position for BONK.

BONK’s Attempt To Siphon Meme Coin Rally Momentum As the BONK price continues to surge, a whale has recently taken entry in this meme coin.

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