Bonk (BONKUSD) Price Forecast: December 18
BONKUSD pair may experience another bullish reversal price action. The coin price may rise above the mentioned supply if the forces from buyers in the market should increase and the current support level at $0.0000205 holds, the coin price may retest the $0.0000349 previous swing high and this may extend to the $0.0000350 upper high mark and beyond.
Resistance Levels: $0.0000289, $0.0000290, $0.0000291
Support Levels: $0.0000250, $0.0000249, $0.0000248
BONK (USD) Long-term Trend: Bullish (Daily Chart)
BONKSD pair indicates an upward trend and this may rise above the $0.0000349 supply mark soon in its long-term perspective as can be seen from the chart below.
The coin price can be seen above the EMA-50, this is due to the high inflows of the long-term traders in the market. The bulls’ high inflow in the past few days has made it possible for the coin to remain in an uptrend in its recent high.
The drop in the price of Bonk to the $0.0000205 low value as the daily chart commenced today has no serious effect on the market as the price remains in an uptrend.
Thus, if the bulls can put extra effort into the price action and break above the $0.0000279 supply mark, further selling pressure will be put into hibernation and the price may rise above the previous high mark.
In addition to that, there is a possibility for the BONKUSD price to reverse at the $0.0000205 low value as the coin market now approaches the oversold region. If the bulls attain this, the crypto price may rise above $0.0000349 soon in its long-term outlook.
BONK (USD) Medium-term Trend: Bullish (4H Chart)
In the medium term, the coin is also showing a bullish posture. The BONKUSD price can be seen above the EMA-50 due to the high inflow of long traders. However, the coin price may rise above the $0.0000349 supply mark as soon as the bulls remain dominant.
The strong push by the bulls to the $0.0000204 supply trend level during yesterday’s session has contributed to its strong bullish trend in its recent high.
Now, the current pullback at the $0.0000213 supply value as the 4-hour chart opens today indicates the return of the long traders to stage a play and dominate the market actions.
Hence, if the bulls could push higher and additional selling power is prevented, the price of Bonk may rise above the previous high of $0.0000349 value resulting in more intraday gains for buyers.
In continuation, the market price of BONKUSD is pointing up in the oversold region of the daily stochastic, this means that the selling pressure has reached exhaustion, and the expected upside move in the price may rise above the $0.0000349 swing high in the coming days in its medium-term outlook.
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