Price Analysis

Here is What to Expect from Bonk (BONK) & FLOKI (FLOKI) Price Rally in July 2024

The crypto markets have become hopeful as Bitcoin price appears to have re-instated an accumulation phase after a minor upswing. Apart from the major altcoins, memecoins have quickly gained immense strength. While the top memecoins like Dogecoin, Shiba Inu, Pepe & dogwifhat prices are consolidating, Bonk & FLOKI prices have maintained a strong ascending trend. With the growing optimism around the tokens, here is what’s expected from these tokens in July.

Bonk (BONK) Price to Hit $0.00003

Bonk, Solana’s first dog-themed token, has been maintaining a steep ascending trend since the beginning of the year. Regardless of the bearish interference, the bulls dominated the rally and triggered a rebound at frequent intervals. Currently, the price has surged above the crucial support range, which suggests the token is about to loom to acquire crucial resistance. 

The short-term trade suggests the price following a parabolic recovery phase to reach the neckline close to $0.00003. The volume has increased and is favourable to bulls, which keeps up the bullish momentum. However, to attract more liquidity, a minor dip is necessary, as suggested by the stochRSI, which is about to trigger a pullback after reaching the upper threshold. Therefore, the BONK price is believed to maintain an ascending consolidation and reach the neckline before the end of the week. 

FLOKI (FLOKI) Price Testing Crucial Zone

After hovering around a range for over a couple of days, the FLOKI price has initiated a quick upswing. This rise in value has contributed to the rising optimism around the markets as Bitcoin displays some strength. Currently, the price is testing one of the key resistance zones and hence the token is expected to remain elevated to reach these levels throughout the week. 

The short-term trade displays the bulls and bears holding enough dominance over the rally as the price remains stuck within pre-determined resistance and support levels. However, the RSI has maintained an ascending trend, which is expected to keep the levels elevated for the next few days and reach $0.000018. The bulls have displayed their weakness at these levels in the past few days and if a similar trend reciprocates, the consolidation may continue. Otherwise, the FLOKI price is expected to rise and reach levels above $0.000019. 

SOURCE

Leave a Comment

api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api