Bonk Crypto Shows Signs of Turnaround, Whales Accumulate
Bonk, the cryptocurrency, has shown signs of a potential turnaround in its fortunes. The last pivot point of control was reached in late 2023, and a double-bottom pattern is emerging, which could drive further price increases if confirmed.
Bonk has demonstrated resilience by defending a crucial higher-timeframe support level twice, preventing deeper price drops and setting the stage for a possible reversal. To confirm the double-bottom pattern, Bonk needs to reclaim the point of control. A break above the value area high could trigger a strong bullish rally towards swing highs.
Adding to the optimism, whales have recently accumulated 80 billion Bonk tokens, indicating their confidence in a potential rebound.
Bonk's recent price action suggests a potential reversal, with a double-bottom pattern forming and critical support levels holding. A break above the value area high could spark a strong rally. The significant accumulation by whales also signals confidence in Bonk's prospects.
