Bonk (BONKUSD) Price Forecast: December 21
BONKUSD is currently recovering and the price will break out from the support level as soon as we can see a bullish correction in place. An increase in the bulls’ pressure may break the previous supply at $0.0000349 and this may swing up the crypto price to a $0.0000350 supply level and beyond.
Key Levels:
Resistance Levels: $0.0000180, $0.0000190, $0.0000200
Support Levels: $0.0000100, $0.0000090, $0.0000080
BONK (USD) Long-term Trend: Bearish (4H Chart)
The long-term market value of Bonk is bearish. The coin price may likely break from support soon as the bulls are now ready to move us higher.
During yesterday’s session, the pair dropped down and held the $0.0000189 support level. This has made it possible for the coin to remain below the supply levels at its recent low.
The market price of BONKUSD made a pullback at the $0.0000185 supply level below the EMA-50 as the 4-hour chat opens today which resulted in intraday gains for the bulls. This suggests that the bulls are about to break out from the support level and this may hit the $0.0000349 previous high level.
Now, if the bulls should put extra effort into their buying forces, the coin price will break out from the support level and close above the $0.0000349 high value which could probably lead to the $0.0000350 upper resistance level soon in its higher time frame.
BONK (USD) Short-term Trend: Bearish (1H Chart)
The momentum on the lower time frame (1 hour) is undeniably bearish. The prices are below the moving averages trying to break out from support, this means it’s in a bearish market.
The sustained bearish pressure to a $0.0000186 level in the previous action has led to the coin’s recent low.
The current price correction at the $0.0000185 supply value indicates that the bulls are trying to resume the uptrend move to dominate the market.
Further, continuation to the north is likely as the market is now pointing up in the oversold region, so the buy traders are already set to break out from support to dominate the market activities.
We can expect the buy traders to hit the $0.0000350 resistance trend line as the journey up north continues in its short-term outlook.
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