Bonk coin price prediction

Short-term bullish, key resistance at 22%.

Bonk [BONK] has been on a downward trend in recent weeks, and the retracement phase is not yet over. The entire meme coin market has also retraced its gains in the past month and has not recovered yet.

Technical analysis shows that there is a possibility of a rebound in the short term. However, this will be a retest of the resistance zone established earlier this month.

Moving averages form a bearish crossover

The 20 and 50 period moving averages are above the price, recently forming a bearish crossover, indicating a downward trend is underway. Breaking below 0.00004 US dollars in the second week of December also indicates the same idea - a deep retracement is imminent.

After the 78.6% Fibonacci retracement level at 0.0000264 US dollars was retested and defended as support, BONK bulls have reason to cheer. However, there is still work to be done.

Since mid-November, OBV has been forming lower highs. It must break this pattern for meme coin to resume its uptrend. Another thing to break is the bearish market structure, breaking above 0.000035 USD and subsequently setting higher lows will be the first step.

What is the price prediction for Bonk coin?

The one-month retrospective settlement chart shows that the liquidity cluster is 0.000049 US dollars. The size of this liquidity pool means that it is likely to be the target of BONK in the coming weeks.

Before that, the $0.00004 area may also see a slight decline after retesting.

The two-week liquidation heat map highlights the resistance that 0.00004 USD may cause. The liquidation level here is likely to be cleared before the retracement.

The depth of this pullback is not yet clear, depending on the strength of the BONK bulls and the bullish momentum of bitcoin at that time.