• With a 9% rally, BONK is trading around $0.000012.
  • The meme coin’s trading volume has surged by over 35%.

The recent recovery efforts fell short, with major assets extending their losses. However, the meme coin sector holds steady with a market cap of $52.9 billion. The Solana-based meme coin BONK has posted a gain of over 9.69%.

The meme coin manages to settle as the third top gainer and chooses a bull run for the day. Breaking past a crucial resistance level at $0.00001286, BONK has climbed to a peak of $0.00001291 from a low of $0.00001129. 

BONK currently trades at $0.00001264, with its market cap touching $986.12 million. Notably, the daily trading volume of the meme coin has reached $150.81 million. 

The upside trajectory of BONK has recorded a 15.12% gain over the past seven days. The meme coin began the week trading at around $0.000011, and eventually, it mounted to the current trading level. 

Can BONK Break Out to New Highs?

If the bulls could sustain the active bullish momentum, the price of BONK could mount immediately to the $0.00001296 resistance. Further gains might push the price of the meme coin to hit high targets around $0.00001370. 

On the support side, assuming BONK loses its grip, it could likely pull back the price to the support zone at $0.00001191. A potential decline might trigger the meme coin continuing to plummet toward the $0.000011 range.

BONK’s Moving Average Convergence Divergence (MACD) line has crossed over the signal line. This crossover exposes a strong bullish momentum with the potential for continued upward movement in price. 

BONK Eyes Key Resistance At $0.000013, After 9% Surge image 0 BONK chart (Source: TradingView )

The Chaikin Money Flow (CMF) indicator of the meme coin positioned at -0.05 denotes that outflows are slightly outweighing inflows. Meanwhile, BONK’s trading volume has increased by over 35.83%.

BONK’s ongoing market sentiment is bullish, as the daily relative strength index (RSI) settles at 65.26. Besides, the Bull Bear Power (BBP) value at 0.00000122 suggests a very slight bullish advantage in the market.

Disclaimer: The opinion expressed in this article is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.