crypto.news 2025-04-16 18:13:48

BONK approaches critical apex: Double Bottom formation in play

BONK is trading at a key high time frame support level while showing signs of a potential trend reversal. A double bottom formation is developing, and a breakout above dynamic resistance could confirm a shift in market structure, setting the stage for a bullish rally. After a prolonged bearish trend marked by consecutive lower highs and lower lows, BONK ( BONK ) is now trading at a crucial decision point. The asset has respected a significant support level twice, forming what may develop into a double bottom formation. However, confirmation is still pending and depends on the next few weeks of price action. The market now awaits a breakout from the apex zone, where resistance and support are converging tightly. Key points covered BONK has printed a potential double bottom formation after a bearish downtrend The current support level has held twice to the dollar, indicating potential strength A confirmed breakout through dynamic resistance would signal a bullish shift Price action has repeatedly tested the value area low support, resulting in two significant bounces. This has created the potential for a double bottom pattern, often seen as a classic reversal signal. However, without a bullish higher low and breakout, the pattern remains unconfirmed. You might also like: Panama City votes to approve crypto payments for public services Currently, price is squeezing into an apex zone, a point where monthly support and dynamic resistance converge. This tightening price action often precedes major directional moves. For BONK, a break above the dynamic resistance line would mark a structural shift from bearish to bullish on the daily time frame. This would confirm the double bottom and suggest the downtrend is potentially over. For the breakout to hold validity, volume confirmation is crucial. A strong move through resistance, supported by increased volume, will likely lead to a push toward weekly resistance and value area high levels. Until this occurs, traders should watch for further consolidation within the apex zone. What to Expect in the Coming Price Action In the short term, expect BONK to continue ranging within the apex zone. A daily higher low forming near the monthly support could signal early strength. If price breaks above the dynamic resistance with strong volume, it may kick off a bullish rally toward the weekly resistance region. On the flip side, a breakdown below support would invalidate the current structure and likely lead to lower price targets. Read more: Onyxcoin price dives as chart points to more 55% downside

Meist gelesene Nachrichten

Onyxcoin Faces Uncertainty with Signs of Pote...
2025-04-21
Circle Floats New Payments Network For Cross-...
2025-04-21
Maximize Your Crypto Gains with Kernel DAO’s...
2025-04-21
Potential Impact of Proposed ETFs on Solana a...
2025-04-21
From 920 EH/s to 868 EH/s: Bitcoin’s Hashpowe...
2025-04-21
Tesla to kick off Mag 7 earnings as more comp...
2025-04-21
Here’s why Shiba Inu and Lightchain AI could...
2025-04-21
More than 70 US crypto ETFs await SEC decisio...
2025-04-21

https://www.digistore24.com/redir/325658/ceobig/

Ähnliche Neuigkeiten

Economist Alex Krüger Says US Committing ‘Economic...
21 Apr 2025
After Suddenly Dropping 90 Percent, Mantra (OM) De...
21 Apr 2025
Shocking Dollar Plunge: Trump’s Fed Threat Sparks...
21 Apr 2025
Circle to Launch Global Payments and Cross-Border...
21 Apr 2025
Monero price prediction 2025-2031: Should you buy...
21 Apr 2025
Coinbase secures more SEC documents on Ethereum 2....
21 Apr 2025

Lesen Sie den Haftungsausschluss : Alle hierin bereitgestellten Inhalte unserer Website, Hyperlinks, zugehörige Anwendungen, Foren, Blogs, Social-Media-Konten und andere Plattformen („Website“) dienen ausschließlich Ihrer allgemeinen Information und werden aus Quellen Dritter bezogen. Wir geben keinerlei Garantien in Bezug auf unseren Inhalt, einschließlich, aber nicht beschränkt auf Genauigkeit und Aktualität. Kein Teil der Inhalte, die wir zur Verfügung stellen, stellt Finanzberatung, Rechtsberatung oder eine andere Form der Beratung dar, die für Ihr spezifisches Vertrauen zu irgendeinem Zweck bestimmt ist. Die Verwendung oder das Vertrauen in unsere Inhalte erfolgt ausschließlich auf eigenes Risiko und Ermessen. Sie sollten Ihre eigenen Untersuchungen durchführen, unsere Inhalte prüfen, analysieren und überprüfen, bevor Sie sich darauf verlassen. Der Handel ist eine sehr riskante Aktivität, die zu erheblichen Verlusten führen kann. Konsultieren Sie daher Ihren Finanzberater, bevor Sie eine Entscheidung treffen. Kein Inhalt unserer Website ist als Aufforderung oder Angebot zu verstehen