Key point:
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BONK has taken a breather after its epic rally, but no signs of a top yet.
Solana memecoin launchpad LetsBonk’s 24-hour revenue skyrocketed to $1.04 million on Monday, nearly double the revenue of Pump.fun at $533,412, according to data aggregated by decentralized finance platform DefiLlama. 🤑
Bonk’s (BONK) price has been on a wild ride since the launch of LetsBonk on April 25. Will the party continue? Let’s take a look at the charts to find out. 📈
BONK price prediction
BONK bounced back from $0.000011 on June 22 and gained momentum after breaking above the moving averages on Friday. 🎉
The 20-day exponential moving average ($0.000017) is starting to turn up, and the relative strength index (RSI) is in positive territory, indicating that the bulls are in control. 💪
If the bears don’t spoil the party too much, the BONK/USDT pair could reach the overhead resistance of $0.000026. This is a crucial level to watch out for because a break above it will complete a double bottom pattern. The pair may then climb to the pattern target of $0.000041. 📈
The 20-day EMA is the key support to watch on the downside. A break below the 20-day EMA could keep the pair inside the $0.000011 to $0.000026 range for some time. 📉
The pair has pulled back below the 20-EMA on the 4-hour chart, indicating profit-taking by short-term buyers. The pair could dip to the 50% Fibonacci retracement level of $0.000020, where buyers are expected to step in. If the price bounces off $0.000020, the bulls will once again try to push the pair above $0.000024. 📈
On the other hand, if the price plummets below $0.000020, the pair could reach the 50-SMA. A deeper correction is likely to delay the resumption of the up move. 📉
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2025-07-10 02:01