BONK price plunged over 5% on Friday during U.S. trading hours as the crypto market’s mid-week recovery stalled. The lack of follow-up on the upside hints at a lack of conviction from buyers and a potential pullback to bottom support. Will the correction trend extend?
BONK Price Poised to Retest Major Support
BONK price notably recovered from the $0.0000155 to $0.0000218 high this week, registering a 40% jump. This sudden jump in most major altcoins followed the Bitcoin recovery above $60000 amid a market relief rally.
In such scenarios, the Meme cryptocurrencies often emerge among the highest movers due to their volatile nature and receptivity to speculating trading. However, this surge doesn’t confirm a trend reversal compared to the intense downtrend in July.
Thus, the Solana-based meme coin BONK plunged back to the $0.000020 price level, and the market cap fell to $1.43 Billion.
A bearish crossover between the 50- and 100-day EMAs could renew the selling pressure and plunge t
We współpracy z: https://coingape.com/markets/bonk-price-approaches-key-support-another-bounce-or-40-correction/
