$BONK Price Points to More Upside While This Low-Cap Meme Coin Looks to Capitalize on Ethereum ETF Approvals

cryptonews.com:

– $BONK price surged this week but corrected after Ethereum ETF approvals

– Low-cap meme coin Galaxy Fox aims to capitalize on potential Ethereum ecosystem boost

– $GFOX offers play-to-earn game and token burn mechanism to drive engagement

The meme coin $BONK enjoyed a price surge this week, with gains exceeding 35%. However, in the wake of the Ethereum ETF approvals last night, the market experienced a correction phase, and $BONK’s price has followed suit, dipping by 7% over the past 24 hours.

Concurrently, we’ll delve into the analysis of Galaxy Fox ($GFOX) , a low-cap Ethereum-based meme coin with a market capitalization under $1 million, which aims to capitalize on the potential upswing driven by the Ethereum ETF approvals.

At the time of writing, the $BONK price is trading around $0.000032, with a market capitalization of approximately $2.1 billion. While this Solana meme coin has surged by 35% this week, it has experienced a correction in the last few hours.

According to altFINS , the price is in an uptrend, with a bullish breakout from an ascending triangle pattern above the $0.000030 resistance level, where it faced rejection twice recently. This breakout could signal a continuation of the uptrend, with a potential upside target of $0.000037 (23% gain). The suggested stop-loss level is $0.000028.

The ascending triangle is considered a continuation pattern, typically breaking out in the direction of the existing trend. Swing traders may opt to trade between the trendlines, buying at support and selling at resistance as long as the trendlines remain relatively far apart.

The short-term, medium-term, and long-term trends for BONK are all strongly bullish. Additionally, the momentum is bullish, with the MACD