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Most cryptocurrencies followed Bitcoin’s sharp rise, according to CoinStats.
The BONK rate has climbed 26% over the past day.
On the hourly chart, BONK price made a false breakout of the local resistance level of $0.00001708. If the daily bar closes far from this mark, we can expect a local correction to the area of $0.0000160.
Longer term, BONK’s growth continues. Thus, the volume also increases, which means that buyers continue to control the market situation.
If today’s bar closes above yesterday’s high, we can expect a test of resistance soon.
From a medium-term perspective, the bulls have taken the initiative as the candle is about to close above the previous one. If this happens, the upward movement will likely continue up to the $0.00001930 level.
BONK is trading at $0.00001722 at press time.