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The BONK coin maintains a strategic support level, raising the odds of a price surge that could reach 60%, driven by ongoing burn operations that add momentum to bullish technical indicators.
After a strong rally that started from $0.00001143 on June 22, reaching a peak of $0.00004075 on July 17, achieving gains of 256%, BONK faced a decline of 40% before finding strong support at $0.00002411 on August 2. Despite this correction, the positive crossover between the 20-day and 50-day exponential moving averages remains, indicating the continuation of the upward trend in the medium term.
The coin is currently stabilizing above the 50-day moving average and an important support range between $0.000025 – $0.000026, a level that represented strong resistance in late 2024 and last May before it turned into support backed by notable accumulation, in addition to its alignment with the 50-day moving average.