BONK/USDT Rebounds Successively

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The BONK/USDT market is on today’s top crypto movers list. At the time of writing, the token has recorded a price increase of 5.53%. Meanwhile, its price action appears to hold strong support around promising levels.

Bonk Statistics

Current Price: $0.00002311

Market Capitalization: $1.84B

Circulating Supply: 88.82T

Total Supply: 88.87T

CoinMarketCap Rank: 54

Key Price Levels

Resistance: $0.00002500, $0.00003000, $0.00003500

Support: $0.00002000, $0.00001500, $0.00001000

BONK/USDT Quick to Recover

Price action in the BONK token can be seen successively rebounding upward off the middle band of the Bollinger Bands. Recently, price action hit the uppermost band, which resulted in a slight pullback.

However, the ongoing session has posted a notable recovery, keeping the market close to the top limit of the Bollinger Bands. The lines of the Moving Average Convergence Divergence (MACD) indicator are positioned above the equilibrium level and maintain an upward trajectory, reinforcing the impression that the uptrend remains intact.

BONK Still Poised for More Gains

In the BONK/USDT market, price action has pulled back slightly from the uppermost limit of the Bollinger Bands. As a result, the most recent price candle appears compressed, indicating a minor downward retracement.

Nevertheless, trading activity continues to hover around the upper band. The MACD lines have descended slightly but seem to be approaching a crossover. Meanwhile, the Bollinger Bands appear to be contracting, suggesting that price action may soon progress toward the $0.00002500 resistance level.

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