Bonk, a memecoin based in Solana, has completed a V-shaped recovery, Getting 4.65% to $ 0.00002202.
The move followed a sink to $ 0.000020 on July 9 at 15:00 UTC, where institutional accumulation emerged to stabilize price action.
The most significant upward momentum occurred between 02:00 and 05:00 on July 10, when Bonk advanced from $ 0.000021 to $ 0.000023, supported by a spike in trading volume.
The indicators remain bullish, according to the technical review model of Coindesk Research.
The 20-day average transfer of average (EMA) began to turn away, while the index of the relative -child strength (RSI) Remains in the positive territory, suggesting to keep the bulls in the upper hand. Moreover, the bonk is Close confirmation of a “Golden Cross,” Where the 50-day EMA climbs above the 200-day EMA. That is a pattern commonly associated with long -term upward trends.
At the forefront, damaging more than $ 0.00002389 resistance levels can speed up the gains to $ 0.000026, which, if overcome, will complete a double pattern underneath and open the door for a potential rally at $ 0.000041. Intermediate resistance lies in $ 0.00002577- $ 0.00002840 zone.
Technical assessments
- V-Shaped Recovery: From $ 0.000020 to $ 0.00002202, up to 4.65%.
- Current pullback: trading near $ 0.00002128, down 5.95% in some markets.
- Support zone: $ 0.000020 identified as a reliable accumulation level.
- Resistance Levels: $ 0.00002389 (immediately)$ 0.000026 (Major)and $ 0.00002840 (Upper Consolidation Range).
- Breakout Target: A move above $ 0.000026 can be projecting to $ 0.000041 to double the bottom confirmation.
- Indicators: 20-day EMA turned away; RSI is positive; Golden Cross close to confirmation between 50-day and 200-day EMA.
Denial: Parts of this article were formed with assistance from AI tools and our editorial team reviewed to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s entire AI policy.
