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Home»Altcoins»Bonk falls under the key support: the memecoin can only recover if …
Altcoins

Bonk falls under the key support: the memecoin can only recover if …

2025-03-11No Comments3 Mins Read
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  • Bonk broke from an increasing trend channel that has held its price action since the launch of the Memecoin.
  • Despite pricing liquidity, there is no significant urge to go higher, which it could set for a further decrease if buyers delay.

The daily graph of Bonk [BONK] showed a simple outbreak of an Uptrend channel that had dictated a price action since the launch of the meme -token.

The channel with rising resistance and support had previously stopped the price with multiple tests and bouncers in 2024.

Bonk recently fell under the channel floor at $ 0.00000933, wipe the liquidity below and caused a weak positive reaction on the back of the tail of the daily candle, which indicates the initial purchase interest rate.

The lack of a strong bullish momentum suggested a potentially further decrease if the buyers do not intervene.

BonkBonk

Source: TradingView

The MACD measurements of -0.00000214 for the MACD line, -0.00000194 for the signal line and -0.0000000019 for the histogram indicate Bearish Momentum. The falling MacD line under the signal line, along with the falling histogram, suggests that stabilization can soon approach.

The violation of the structure below $ 0.00000933 marked a considerable turning point, with the price going up after the sweep.

If the price remains above this level, this may indicate the continuous buying interest, which may focus on the channel support that has now become in resistance.

Bonk’s Dex Trading volumes and transfers

Looking at the DEX trade Van Bonk, showed that the transfer value peaked a peak above $ 45 million, because the respective number of transfers reached nearly 150,000 before they fell to $ 60,000 transfers. The transfers then climbed to $ 110,000 and 120,000 transfers respectively.

See also  Top Analyst Says One Memecoin Is His Fastest Horse, Updates Outlook for Altcoin AKA Solana Killer

Such an increase in the transfer value and the volume can be an indication of higher interest rates and liquidity that can propel a Bull Run in price for Bonk. The walk can also mean that traders capitulated, with regard to the attention prize in general.

The DEX trade Van Bonk showed that the total transactions this week at around 90,000 peaks, with a press volume of a sales volume of more than $ 4 million and a purchase volume of $ 4 million. However, the sales volume was slightly higher.

BonkBonk

Source: Solscan

The total transactions fell to 40,000 with a sales volume of $ 1 million and a purchase volume of $ 2 million, which suggests that more traders bought as the price dropped.

The Totals were $ 2.11 million in sales volume and $ 2.14 million in purchase volume at 49,394 transactions. The marginal superiority of the purchase volume indicated a weak purchasing pressure that can support a price increase if maintained.

In the future, ongoing transfer activity and the pressure from the purchase side could propel the price of Bonk higher; However, buying a shift in or selling extra can lead to stagnation or a decrease.

Next: Ethereum drops under $ 2k – Can ETH avoid a fourth consecutive month of losses?

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BONK Falls Key MEMECOIN Recover Support
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