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BONKUSDT trade ideas

Bonk After 3 Successful trades we are Ready for Another Entry ## BONK Coin: Short Fundamentals, Recent News, and Disclaimer **Fundamentals:** * **BONK:** A dog-themed meme coin launched on the Solana blockchain in December 2022. * **Focus:** Aims to build a vibrant community within the Solana ecosystem. * **Unique Features:** * **50% airdrop:** Half of the total supply airdropped to Solana users. * **Meme-based marketing:** Leverages humor and virality to gain attention. **Recent News:** * **Feb 20, 2024:** Bonk announces partnership with Magic Eden NFT marketplace for exclusive merchandise. * **Feb 14, 2024:** Bonk integrates with STEPN, a move-to-earn app, offering rewards for walking with BONK. * **Feb 10, 2024:** Bonk experiences a significant price increase, coinciding with broader market momentum. **Disclaimer:** * This information is for educational purposes only and should not be considered financial advice. * Meme coins are highly speculative and carry significant risks due to their inherent volatility and lack of real-world use cases. * Do your own research before making any investment decisions. **Additional Notes:** * BONK price has been highly volatile since its launch. * Recent partnerships aim to increase BONK's utility and user base. * It's crucial to understand the risks involved before investing in any meme coin.
Long
by MoonTradingForecast
BONK Gears Up for a Bullish Breakout: Key Levels to WatchThe BONK price has recently shown signs that could excite bullish investors. Analyzing the closing prices over the last few sessions, which have gently ascended, shows a market that's cautiously but steadily leaning towards optimism. This upward trend, while subtle, is a key indicator of the market's sentiment shifting in favor of the bulls. The technical indicators further reinforce this bullish sentiment. The 9-day Exponential Moving Average (EMA) on the 4-hour chart has seen a gradual increase. This progression suggests that the short-term momentum is gaining strength, with prices moving above the average levels, a classic bullish signal. Moreover, the Moving Average Convergence Divergence (MACD) values provide additional bullish signals. The histogram values have been moving closer to the zero line, indicating a decrease in bearish momentum. The indicator suggests the market is on the verge of a bullish crossover, where the MACD line is expected to cross above the signal line, potentially triggering a further upward price movement. The Relative Strength Index (RSI), which has climbed over the past 48 hours supports the bullish narrative. Its move into the territory above 50 is often interpreted as a sign of increasing buying pressure, further hinting at a market that's gearing up for more bullish activity. Trading volumes have been robust, indicating active participation and interest in BONK. This active trading is essential as it provides the liquidity and volatility needed for the Bonk price to continue its upward trajectory. Looking ahead, the immediate resistance level at $0.00001364 is the next target for bulls. A decisive break above this level could pave the way for the Bonk price to challenge further resistance at $0.00001412 and potentially at $0.00001423. On the flip side, support levels at $0.00001308, followed by $0.00001266 and $0.00001243, will serve as safety nets, ensuring that any pullbacks don't turn into full-blown bearish reversals. Given the current market conditions and the bullish signals from both price action and technical indicators, BONK appears to be setting the stage for an upward movement. Investors and traders should monitor these key resistance levels closely, as a breakout could confirm the bullish trend and offer opportunities for gains.
Long
by StevenWalgenbach
BONK Breaks Out of Buy Zone and May Soar to $0.0000192765BYBIT:BONKUSDT broke out of the historic buy zone between $0.000008855 and $0.0000128480 over the past 24 hours. As a result, the memecoin may have the room needed to rise to the next major resistance level at $0.0000192765 in the following couple of days. Continued buy pressure could then push the crypto to the $0.0000290295 barrier in the short term as well. This bullish thesis may be invalidated if the Bonk price drops to within the historic buy zone in the next 48 hours. In this alternative scenario, the altcoin may fall to the $0.0000088550 support level in the following couple of days. If traders decide to dump BONK at this point, it could be at risk of falling to as low as $0.0000051340 in the short term. Bulls Re-Enter Bonk’s Charts Technical indicators on BONK’s 4-hour chart suggest the Bonk price may continue rising in the next 48 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are flagging bullish. The MACD line recently crossed above the MACD Signal line. This is a significant bullish technical flag, which may be a sign that the meme coin has entered a short-term positive trend. In addition to this, the RSI line is positioned above its Simple Moving Average (SMA) line. Traders generally see this as a signal that buyers have the upper hand against buyers. Bulls also seem to be growing stronger as the RSI line is positively sloped towards overbought territory. If these technical flags are validated, the Bonk price may reach the $0.0000192765 resistance level soon.
Long
by StevenWalgenbach
🔥 BONK Bull-Flag Break Out: Get Ready For GAINSAfter the initial launch on Binance, BONK has shown a lot of weakness. However, now that we're a few months later things have started to look better for the bulls. After an initial push in February, BONK has now successfully broken out of a short-term bull-flag, making it more likely fur the bulls to keep the trend. My idea is that BONK will likely go back towards the ATH value of around 4000. With a tight stop we can create a very decent trade with a R/R over over 14.
Long
by FieryTrading
5
BONK: PEPE, I'm coming home to you!Explaining the idea of why I expect BONK to fall further. Trend : LH's and LL's, peaks getting lower and lower, tapping into the floor of 0.00001 Volume peaks : I've marked the peaks with a red "X" both on the price chart and volume. Decreasing volume : Every time a peak has been made, volume as fallen, and so has price. See the red arrows on price and volume. I'm expecting this to be the case now too. Eventually breaking the floor of 0.00001 and falling to around 0.000005. That's about a 60% drop from current prices.
Short
by RiskCity
Bonk is ready to go higher (500% profit)Bonk is in extremely huge bull market, as you can see on the chart. I expect another pump because market never ends its uptrend in such way. We want to see a bearish divergence on the weekly chart first. if you buy now, a 500% Profit is really likely. We need to complete wave (5) to finish this uptrend. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades! Nearly half of the total supply, i.e. 50 trillion coins, is distributed among those who maintain the Solana blockchain and contribute to the development of the community in any way possible. According to Orca, a DEX built on top of the Solana blockchain, the airdrop resulted in approximately $20 million in trading volume. Since $BONK was listed across a number of popular crypto exchanges on December 30, 2022, the token has grown by over 2,000% in a week. Some projects built on Solana have already integrated $BONK as an option to make payments for NFTs, while others have provided users with the opportunity to earn BONK tokens for staking NFTs. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades!
Long
by Xanrox
9
BONK Plunges 10% After It Failed to Reclaim a Key SupportBYBIT:BONKUSDT managed to break above the $0.0000128480 resistance level over the past couple of days, but was not able to establish a position above the key price point. As a result, the memecoin’s break above the threshold was short-lived, and the Solana memecoin retraced back within the historic buy zone between $0.0000088550 and $0.0000128480. Should sellers continue to sell their BONK holdings, the crypto may correct to the $0.0000088550 support. In an extremely bearish scenario, the altcoin may fall to as low as $0.0000051340. This bearish thesis could, however, be invalidated if the BONK price manages to close a daily candle above $0.0000128480 in the next 48 hours. In this alternative scenario, the crypto may rise to as high as $0.0000192765 in the following few days. Continued buy pressure may even boost the BONK price above this point to reach as high as $0.0000290295 in the short term. BONK’s Positive Trend May Reverse Soon Technical indicators on BONK’s daily chart signal that BONK is currently in a bullish cycle, but that the crypto’s positive momentum has simmered down. The Moving Average Convergence Divergence (MACD) line is leveling off above the MACD Signal line. If the gap between these two lines starts to narrow, it may indicate the altcoin’s bullish trend is undergoing a bearish reversal. Buyers also have the upper hand against sellers on BONK’s daily chart. This is evident by the Relative Strength Index (RSI) being positioned above the Simple Moving Average (SMA) line. However, the RSI has also started to level off above the SMA line, which could suggest bulls may start to lose some of their strength against bears soon as well.
by StevenWalgenbach
Bonk Breaks Above Major Resistance and May Rise to $0.0000128480BYBIT:BONKUSDT broke above a medium-term negative trend line over the past 48 hours. This gave it the room needed to continue climbing. Buyer’s realized this and started purchasing into the meme coin, which led to BONK breaking above the $0.0000128480 resistance level recently. The break above this significant price point has also cleared a path for the Bonk price to potentially rise to as high as $0.0000192765 in the short term. Continued buy pressure may even lead to the crypto rising to as high as $0.0000290295 in the upcoming days. This bullish thesis could be invalidated if the Bonk price fails to establish a position above the $0.0000128480 barrier within the next 24 hours. In this alternative scenario, BONK may re-enter the consolidation zone between $0.0000088550 and $0.0000128480. Continued sell pressure could then put the altcoin at risk of retesting the $0.0000088550 support before possibly dropping to as low as $0.0000051340. Bulls Show No Signs of Slowing Down Technical indicators on BONK’s 4-hour chart suggest the meme coin’s value may continue to rise in the next 48 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are flagging bullish. The MACD line is breaking away above the MACD Signal line. Traders generally see this as an indication that a crypto’s positive trend is intensifying. In addition to this, the RSI is breaking away above its Simple Moving Average (SMA) line, which could signal that buyers are currently stronger than sellers. However, the RSI on Bonk’s 4-hour chart warns that the meme coin is in overbought territory. This may soon be identified as a sell signal by traders.
Long
by StevenWalgenbach
BONK Challenging a Negative Trend Line, Will It Break Out?The Bonk price is trying to break above a negative medium-term trend line that has formed on its charts over the past couple of weeks. Should it break above this line in the coming 48 hours, the meme coin may attempt to flip the resistance level at $0.0000128480 into support in the following few days. This could then give the crypto the room needed to rise towards the $0.0000192765 barrier in the short term. This bullish thesis may be invalidated if the Bonk price is rejected by the negative trend line in the next 48 hours. In this alternative scenario, BONK may retest the $0.0000088550 support in the next week. A break below this level then may put the meme coin at risk of plummeting to the subsequent support level at $0.0000051340. Technical indicators on BONK’s daily chart suggest the meme coin may be on the cusp of a bullish move. The Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are pointing towards a surge. The MACD line is attempting to cross above the MACD Signal line, which could be a sign that BONK is close to entering a bullish cycle. The RSI is also looking to cross above its Simple Moving Average (SMA) line. An intersection between these two lines could be taken as a sign that buyers have gained a temporary upper hand against sellers.
Long
by StevenWalgenbach