Bonk Price Surges as Key Support Holds and Coinbase Boosts Visibility
Bonk (BONK) has successfully bounced off teh crucial Golden Pocket Fibonacci zone, marking yet another higher low. This technical rebound signifies a potential bullish reversal, paving the way for a rise towards notable daily resistance.
The Golden Pocket support is particularly robust due to its convergence with a daily structure and the 0.618 Fibonacci retracement. This combination has historically provided a reliable floor for the asset.Bonk’s recovery from this area strengthens its bullish narrative.
Coinbase’s decision to include Bonk as eligible collateral in perpetual futures trading brings added credibility and exposure. This growth elevates its status within the derivatives segment, offering traders more instruments to interact with the coin.
- Golden Pocket support: Intersection of Fibonacci retracement and daily support confirms higher low.
- Point of Control Resistance: Immediate barrier that needs breaching for extended gains.
- upside Potential: Breakout could propel Bonk towards daily resistance and previous highs.
To maintain this upward trajectory,Bonk must overcome the point of control resistance with strong volume. Clearing this hurdle would signal continued bullish sentiment.
Historical trends show that reclaiming the point of control typically precedes rapid expansion. Should this pattern hold, we could witness an impulsive rally pushing the price higher. However, this depends on sustained buying pressure.
Bonk stands at a decisive juncture. A confirmed breakout could lead to considerable gains towards major resistance levels. Traders must watch for volume confirmation to validate this bullish scenario.
