Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Here’s why Bonk Inu price could lead the meme coin pack with 30% rally

Source Fxstreet

Bonk Inu price has formed the rare Adam and Eve pattern, suggesting a trend reversal.
The recent breakout and retest of the $0.000012397 level suggests that the rally is around the corner.
A twelve-hour candlestick close below $0.000011747 will invalidate the bullish bias for BONK.

Bonk Inu (BONK) price seems to be primed for a quick move to the upside as it breached a three-week consolidation pattern. If the outlook remains bullish in the markets, BONK holders are in for a treat.

Also read: Dogecoin price eyes double digit gains as DOGE bulls make a comeback

Bonk Inu price triggers breakout rally

Bonk Inu price consolidation for the last three weeks has resulted in the formation of the Adam and Eve pattern.

The Adam and Eve chart pattern represents a distinctive formation that indicates potential trend reversals in the market. It is characterized by a sharp, V-shaped 'Adam' peak followed by a more gradual, rounded 'Eve' trough.

This technical formation forecasts a 20% upswing to $0.000014908, obtained by measuring the depth of the rounded bottom trough known as Eve and adding to the breakout point at $0.000012397.

On February 10, Bonk Inu price breached the horizontal resistance level at $0.000012397 and is currently retesting it in a bid to confirm a flip of the aforementioned level. Going forward, investors can still expect a 20% move from BONK in the coming days.

Ideally, the Bonk Inu price rally could extend higher and retest the daily resistance level at $0.000016177, bringing the total gain from 20% to 30%

Both the Relative Strength Index and the Awesome Oscillator are in a favorable position to help propel BONK higher.

Read more: BONK price crash leads to half a million Dollars in liquidations

BONK/USDT 12-hour chart

On the other hand, if Bonk Inu price produces a twelve-hour candlestick close below $0.000011747, it will invalidate the bullish for BONK by setting up a lower low. Under these conditions, BONK could slide 20% to collect the sell-side liquidity below $0.000009332.

Also read: Dogecoin price struggles to recover despite fast-paced wallet growth

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Gold ends three-week slide at the $4,400 line — eight straight days of ETF inflows vs a 5% 10-year and a 100 dollar Spot gold closed Friday at $4,378.39, up 0.84% on the day and about 0.8% for the week — its first weekly gain in four weeks — with the intraday high of $4,399.67 leaving it 33 cents shy of the $4,400 line. Gold ETFs have now logged eight straight sessions of inflows, but with the 10-year back above 5% and the dollar index near 100, here is what decides whether this is a reversal or a bounce.

Author Suzie

Sep 20, Sun

Spot gold closed Friday at $4,378.39, up 0.84% on the day and about 0.8% for the week — its first weekly gain in four weeks — with the intraday high of $4,399.67 leaving it 33 cents shy of the $4,400 line. Gold ETFs have now logged eight straight sessions of inflows, but with the 10-year back above 5% and the dollar index near 100, here is what decides whether this is a reversal or a bounce.

October hike odds climb toward 60% as Goldman and BofA both flip — what Warsh's "dose of accommodation" really changed Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.

Author Irene Q.

Sep 23, Wed

Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.

US input costs rose at the fastest pace in four years — the September flash PMI beat is an inflation story, not a growth story US September flash PMIs came in far above expectations, with the composite at 58.4, a five-year high. But the detail that moved markets was input cost inflation at its fastest since October 2022, driven by fuel, transport and supply shortages. Brent is back above $100 and the 10-year Treasury yield has hit its highest since 2007.

Author Suzie

Sep 24, Thu

US September flash PMIs came in far above expectations, with the composite at 58.4, a five-year high. But the detail that moved markets was input cost inflation at its fastest since October 2022, driven by fuel, transport and supply shortages. Brent is back above $100 and the 10-year Treasury yield has hit its highest since 2007.

Brent edges toward $99 as Trump rejects Iran's Hormuz proposal — why the war-risk premium won't rebuild Brent crude rose 0.92% to $98.51 and WTI gained 1.15% to $93.51 after President Trump rejected Iran's seven-day proposal to reopen the Strait of Hormuz. But both benchmarks remain about 12% below their early-September highs, because supply never actually stopped. Hormuz flows ran at 33.7 million barrels this week, in line with the prior week, and Saudi Arabia's East-West pipeline restarted on September 22.

Author Suzie

22 hours ago

Brent crude rose 0.92% to $98.51 and WTI gained 1.15% to $93.51 after President Trump rejected Iran's seven-day proposal to reopen the Strait of Hormuz. But both benchmarks remain about 12% below their early-September highs, because supply never actually stopped. Hormuz flows ran at 33.7 million barrels this week, in line with the prior week, and Saudi Arabia's East-West pipeline restarted on September 22.

Four jobs reports in five days: what JOLTS, ADP, claims and the September payrolls mean for the October Fed decision The US labour market faces its densest data week of the month. JOLTS job openings land Tuesday (7.2 million expected), ADP on Wednesday (70,000 expected), initial claims on Thursday and the September non-farm payrolls on Friday (100,000 expected, down from 162,000). Markets price a 64%-70% chance of another quarter-point Fed hike on October 28. The dollar index sits at 100.77 and the S&P 500 at 7,729.8.

Author Mitrade

22 hours ago

The US labour market faces its densest data week of the month. JOLTS job openings land Tuesday (7.2 million expected), ADP on Wednesday (70,000 expected), initial claims on Thursday and the September non-farm payrolls on Friday (100,000 expected, down from 162,000). Markets price a 64%-70% chance of another quarter-point Fed hike on October 28. The dollar index sits at 100.77 and the S&P 500 at 7,729.8.

Popular Symbols