Bonk Price Prediction as BONK Drops 10% Overnight – Are Whales Selling Their Bags?

cryptonews.com:

Bonk (BONK), a Solana-based memecoin, stands out with a market cap of $2 billion and a total value locked (TVL) exceeding $416 million. As BONK experiences a sharp decline, questions arise about the potential reasons behind the sell-off and what it means for future price movements.

Despite the recent drop, Bonk reached an all-time high (ATH) three months ago, driven by a series of bullish trends, indicating strong market interest. This introduction will delve into BONK price prediction, analyzing key technical indicators and levels that traders should monitor closely.

Bonk (BONK), a Solana-based memecoin, stands out among its peers with a market cap of $2 billion and a total value locked (TVL) exceeding $416 million. Three months ago, Bonk reached an all-time high (ATH), driven by a series of bullish trends.

This strong performance has created lasting positive momentum for Bonk, even through previous market declines. As market sentiment improves, Bonk is positioned as a memecoin to watch for continued growth this year.

Key Points:

At the moment, BONK is trading at $0.000022, up 3.45%. The pivot point is marked at $0.0000229, which is a crucial level for traders to watch. Immediate resistance is seen at $0.0000242, with subsequent resistance levels at $0.0000257 and $0.0000271. These resistance levels indicate potential upward targets if the price manages to break through the pivot point.

On the downside, immediate support is found at $0.0000213, with further support levels at $0.0000199 and $0.0000180. These support levels are critical for traders to monitor as they indicate where the price might find stability if it starts to decline.