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The Bonk price pumped 26% in the past 24 hours to trade at $0.000019762 as of 12:05 a.m. EST on trading volume that skyrocketed 189% to $594 million.
Bonk Price Analysis – Breakout Signals A Bullish Trend Continuation
The BONK price action has dramatically shifted from a prolonged bearish trend into an aggressive bullish reversal.
For months, the Bonk price was trapped inside a falling channel within consistent lower highs and lower lows.
Recently, BONK broke out of this falling channel with strong momentum. The breakout was not just any breakout; it has followed a parabolic curve, indicating a sharp and accelerating rise in price with very little consolidation. Parabolic moves are typically driven by overwhelming demand and FOMO (fear of missing out), but they are also prone to sharp corrections once momentum stalls.
Meanwhile, the 50-day Simple Moving Average (SMA) has now turned upward and currently sits around $0.00001220, providing nearby dynamic support. The 200-day SMA at approximately $0.00002411 lies above the current price of Bonk and is likely to act as major resistance if the rally continues.
The Relative Strength Index (RSI) is at a highly elevated 76.27, which places it firmly in overbought territory. This suggests that while momentum is strong, there could be an increasing risk of a short-term pullback or cooling-off period.
Moreover, the MACD (Moving Average Convergence Divergence) is also flashing a strong bullish signal, with the MACD line crossing well above the signal line and an expanding bullish histogram.
BONK/USDT Chart Analysis (Tradingview)
BONK Price Prediction
As a result of the breakout from the falling channel, the presence of a steep parabolic curve, and confirmation from momentum indicators, the Bonk price appears poised to continue its rally in the short term.
An upside target would be the 200-day SMA near $0.00002411.
However, due to the parabolic nature of the move and the overbought RSI, BONK could undergo a possible sharp retracement. If selling pressure emerges, a pullback to the $0.00001400–$0.00001220 support area could be a healthy consolidation before any further upside.
As Bonk soars, Solaxy (SOLX), a pioneering layer-2 scaling solution for the Solana blockchain, is going parabolic in presale with more than $31.7 million raised.
Popular YouTube channel 99Bitcoins, with over 724K subscribers, says the crypto has the potential to soar 100X after launching.
Solaxy Presale Amasses Over $31 Million In Presale
Solana’s network congestion has intensified over the years, which has led to transaction delays and slowing trade executions.
As these issues persist, Solaxy provides a solution, offering a more scalable transaction framework that maintains low fees and fast settlement times. By acting as a Layer-2 upgrade, Solaxy offloads transactions while securing them on Layer-1, improving network efficiency without compromising decentralization.
At Easter, the chain launched its blockchain explorer on testnet, a tool that lays the groundwork for tracking transactions across Solaxy’s Layer-2 before they’re bundled and committed to Solana’s mainnet.
It’s still in its testnet phase and functions as a sandbox, a separate environment where developers can test features, refine interfaces, and simulate transaction activity without using real assets or disrupting the live Solana network.
Solaxy also bridges Solana with Ethereum, combining the best features of two of the most prominent networks in the crypto space.
🚨 Solaxy is now live in Upcoming Tokens! 🚨@SOLAXYTOKEN gives holders an opportunity to join the first-ever Solana Layer 2 blockchain.
Solaxy is set to enhance blockchain innovation through limiting congestion, reducing failed transactions, and improving scalability on SOL.… pic.twitter.com/satNF6zFNF
— Best Wallet (@BestWalletHQ) December 17, 2024
By leveraging Ethereum’s liquidity and security alongside Solana’s speed and scalability, Solaxy aims to create a robust ecosystem tailored to accommodate the growing demands of the decentralized finance (DeFi) and meme coin communities.
Buyers of the SOLX token can also earn passively on the platform, with a huge 127% annual yield currently on offer.
Investors interested in participating in the presale can visit the official Solaxy website to buy SOLX tokens for $0.001706 each using BNB, ETH, USDT, or a bank card.
To secure the best deal, buy before a price hike in a little more than 1 day.
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