According to Coingabbar Price Analysis, Bonk is also rising as investors buy the dip since it has been in a strong downward trend.
According to the 4H chart, the Bonk token price has been in a significant slump since peaking at $0.000035 on December 15th, last year.
Along the way, the token created a falling wedge shape, one of the market's most optimistic indicators.
Bonk has moved outside the restricted trading range of $0.000009300 to $0.00001380.
It has now moved slightly above the upper side of this pattern and the 50-period moving average.
If BONK sustains above $0.0000138, it may rise to test $0.0000175. Further stability could lead to a challenge of the $0.0000200 resistance level.
If bears outnumber bulls, the price may fall to hit the $0.00001150 support level. Further bear domination might force a challenge of the lower support level around $0.000009300.
KEY LEVELS :
RESISTANCE LEVEL : $0.000013800-$0.000014500
SUPPORT LEVEL : $0.000012300-$0.000011500
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