Bonk: Solana Memecoin begins recovery

The Solana Memecoin Bonk (BONK) appears to have bottomed out and is now initiating an upward move toward last month's lows. These are the important price levels to keep an eye on.

Bonk's share price has managed to evade weakness in the altcoin market over the past 24 hours, rising seven percent. At its peak, it actually rose 12 percent to $0.000019 (about 0.000018 euros).

This puts Bonk among the biggest risers among the top 100 altcoins, along with the well-known memecoin Dogecoin (DOGE), which leads the list with a 13 percent price increase.

If Bonk can hold this upward line and break through resistance around $0.000020 (0.000019 euro), a further rise to last week's high at $0.000023 (0.000022 euro) is possible.

If the price also breaks through this level, a further rise to the tops of recent months at $0.000026 (0.000025 Euros) could take place. In this area, initial profit-taking is likely.