Bonk (BONKUSD) Price Forecast: December 25
Bonk pair at the moment holds recovery opportunity. The coin price may rise to the value mentioned above with a bullish reversal pattern. In case the bulls should defend the selling pressure at the $0.0000178 support level, an increase in the bulls’ momentum may break up the resistance level at $0.0000279 and this may rise to the $0.0000350 upper high trend line.
Key Levels:
Resistance Levels: $0.0000187, $0.0000188, $0.0000189
Support Levels: $0.0000153, $0.0000152, $0.0000151
BONK (USD) Long-term Trend: Bullish (Daily Chart)
Despite the moves by the sell traders, BONKUSD‘s price remains bullish and the price may rise to the $0.00000350 level soon in the higher time frames. This is clear as we can see the prices trading above the EMA-50.
The bullish impact on the crypto to the $0.0000216 supply level in the past two days has sustained its firmness above the supply levels in its recent trend levels.
The price drop by the bears to a $0.0000178 support value above the EMA-50 shortly after the opening of the daily chart has no serious effect on the crypto as it remains intact in an uptrend.
Thus, the BONKUSD price may rise to the overhead trend lines speedily as the coin price remains above the supply trend line. As a result, a touch at the $0.0000279 resistance point is possible soon, if the bulls could increase their buying speed and defend the current support level at $0.0000178.
In addition, the Bonk price may rise to the overhead supply soon as the momentum indicator now approaches the oversold region; this implies that the selling time will end soon.
Therefore, we can expect the emergence of the bulls into the market; as a result, the coin price may rise to the $0.0000350 upper resistance level in no long time in its long-
term perspective.
BONK (USD) Medium-term Trend: Bearish (4H Chart)
The BONKUSD pair can be seen in a bearish scenario in its medium-term outlook. Meanwhile, the trend is about to change and the price may rise to the overhead section as the bulls have just resumed their uphill rally.
The crypto price has been below the supply trend levels since its most recent low due to the persistent bearish pressure over the last few days.
The coin is recovering from the recent correction as fresh buying emerges at the $0.0000185 supply level below the EMA-50 as the 4-hour chart opens today. Meanwhile, a further rise in the market price of the Bonk is possible, as the selling pressure has ended.
Thus, with the positive sentiment, the BONKUSD price may rise to the $0.0000349 previous resistance value which will bolster more buying pressure on the crypto to the upper resistance levels.
Further, the market is now pointing below the 20% range of the daily stochastic. This means the crypto market is oversold and the emergence of bullish pressure is crucial.
Hence, the bulls are expected to turn around the price of BONKSD and the price may rise to the $0.0000350 supply value amidst a market surge in the days ahead in its medium-term time frame.
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