Like Bitcoin
Hover near a new summit of all time, the same, based in Solana, Bonk, directs Major Altcoin Rally.
The sharp increase coincides with the renewed optimism of risk assets after the resumption of Bitcoin over $ 110,000, which sparked widespread gains on established cryptocurrencies.
Bonk’s momentum seems durable while many cryptographic analysts express a bullish feeling, citing a significant potential of rising.
Adding to the bullish case of Bonk, the Token Launchpad of the Bonk Foundation, LetsBonk.Fun, recently exceeded the competitor Pump.Fun in daily volume with an increase of 126%. This development benefits Bonk holders, because 50% of the platform revenues are allocated to the purchase and combustion of Bonk tokens, creating an additional positive price pressure on a market already anticipating the next tokens rods when the project reaches 1 million holders.
Meanwhile, Tuttle Capital Management confirmed on July 16 as the oldest launch date possible for its FNB Crypto sequence with leverage, including an ETF 2 × Bonk, fueling the Haussier feeling.
Strengths of technical analysis
- The Bonk-USD pair has undergone increased purchase pressure in the last 24 hours, from July 2, 4:00 p.m. UTC on July 3, 3:00 p.m. UTC. It went from 0.0000147 to a peak of $ 0.0000175, representing a range of 10.4%, according to the Technical Analysis model of Coindesk Research.
- A significant increase in volume to 2.9 Billions at midnight on July 3 established solid support at 0.0000157, while purchases at high volume at $ 0.0000168 during the time of 05:00 have propelled higher prices despite late profit, according to the model.
- However, in the last 60 minutes of July 3 at 2:50 p.m. at 3:49 p.m. UTC, Bonk-USD experienced significant volatility, going from $ 0.0000,1666 to a minimum of $ 0.00001619 before going back to $ 0.0000,1624.
- A notable volume peak of 86.9 Billions at 15:35 coincided with the price of prices at $ 0.00001619, establishing a level of key support. The subsequent recovery formed an ascending trend line with growing volumes, in particular at 15:49, where 22.5 billions of volume increased prices by 2.7% compared to low session, depending on the model.
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