Bonk Token Surges After Key Support Bounce
Bonk (BONK) has surged from a critical support level, sparking optimism among traders. The token found firm ground near the 0.618 Fibonacci retracement and the point of control (POC), launching a robust bullish move.
The rise has been fueled by increasing buying volume, indicating strong investor interest. This is further confirmed by the formation of consecutive higher lows, a classic sign of a bullish market structure. Bonk’s price is now eyeing higher resistance levels,driven by momentum.
Adding to the excitement, Safety Shot, a Nasdaq-listed company, has announced the launch of BONK Holdings. This new venture aims to acquire Bonk tokens,signaling institutional interest in the cryptocurrency space.
- Support Rebound: Price bounced decisively from key technical levels.
- Market Structure: Higher lows point to ongoing bullish momentum.
- Upside Targets: The price aims to break through higher resistance areas.
Volume plays a crucial role in sustaining this rally. Healthy buying activity has supported each price increase,suggesting ongoing accumulation. For a full breakout, consistent volume is essential.
Technically,the token faces a important challenge at the swing high and higher resistance zone.Breaking through this level could confirm a stronger breakout and pave the way for more gains.
If the momentum fades, bonk might enter a short-term consolidation phase. However, with a decisively bullish structure, sustained buying could lead to the token reclaiming higher resistance zones.
