The cup and handle pattern usually provides a multi-fold target of the length between its base support and neckline. While this retracement is still under the safety net of the Fibonacci retracement level, the BONK price could continue its recovery under the influence of a bullish pattern. However, with the current uncertainty in the crypto market, the BONK price has entered a sideways action and plunged back to $0.0000175. This massive rally is likely linked with the revival of Solana coin price and the forming a bullish reversal pattern called cup and handle. Starting the rally at $0.00000306, the coin price has surged nearly 600% to reach a high of $0.0000112.

The Solana-based meme cryptocurrency BONK has been on a strong recovery trend since the 4th week of October. BONK Price Analysis: Cup&Handle Pattern Leads a Bull Run BONK Price Analysis| TradingView Chart The momentum Indicator Relative Strength Index at 86% reflects an overbought asset that needs a minor pullback to replenish its bullish momentum. If the buyers manage to sustain this level, the BTT price could take another leap to surpass the $0.0000016 swing high and chase the higher target levels of $0.0000018 and $0.0000020. The supply pressure and uncertain market sentiment could trigger a minor pullback, potentially to $0.00000115 or $0.0000011. However, the BTT price has currently taken a halt around the $0.0000017 and $0.0000016 resistance zones, reflecting profit booking from market participants with long-deck rejection. This ascent was primarily influenced when the Tron blockchain reached a significant milestone of 200 million users and FOMO among the market participants. This retracement could offer a suitable dip opportunity as the broader market sentiment remains bullish.Īlso Read: US Fed Rate Cuts To Start After Bitcoin Halving In Q3: Goldman Sachs BitTorrent Price Analysis: $BTT Chart Hints Dip Opportunity BitTorrent Price Analysis | TradingView ChartīitTorrent, a key player within the Tron ecosystem, has seen remarkable gains this month and has been one of the highest crypto gainers of this month, starting from the low of $0.0000005 to its recent high of $0.0000017, registering a total growth of 268%. As the Bitcoin recovery paused at a $44,500 high, the tokens above went sideways or under pullback to recuperate their bullish momentum.

Bittorrent coin price forecast