$BONK pauses four-day rally after Sunday's 28% jump
Bonk corrected slightly by nearly 1% at the time of writing on Monday, following a strong 28% breakout in the previous session, successfully conquering the psychological $0.00001000 mark.
Bonk's four-day rally showed clear signs of breaking out of the descending wedge pattern, opening up new upside potential, with the bulls' next target being the 200-day EMA around $0.00001514.
Similar to BRETT, momentum indicators on the daily timeframe are sending very positive bullish signals. The RSI has surged to 73, officially entering the overbought zone, while the MACD lines have crossed the 0 threshold and the histogram is continuously expanding with green bars, reflecting the strengthening upward momentum.
In a correction scenario, BONK's nearest support zone is at the psychological level of $0.0000100. If selling pressure increases, the price could retreat to test the 50-day EMA around $0.00000976.
