- Crypto’s dip presents a buying opportunity for LUNC, BONK, and INJ, with technical indicators suggesting potential rebounds and strong fundamentals fueling their climb.
- LUNC finds support at $0.00016, poised for a surge towards $0.00028, while BONK may bounce from $0.000018 after its correction.
- INJ’s breakout above $25.4 holds promise for a 68% rally towards $50, despite a possible minor pullback, thanks to its bullish technicals and upward trajectory.
The crypto market has taken a breather after a thrilling eight-week rally. Bitcoin, after touching $44,500, is finding its footing at recent gains, while the overall market cap dipped slightly. However, this retracement doesn’t spell doom and gloom. For selective tokens like Terra Classic (LUNC), Bonk (BONK), and Injective (INJ), the current dip presents a golden opportunity for a strong comeback.
Terra Classic (LUNC): Despite the volatility, LUNC has found solid support at $0.00016, coinciding with the 50% Fibonacci retracement level. This signals a constructive pullback and a potential springboard for a surge towards the $0.00028 mark. The 20-day EMA at $0.00016 further bolsters the bullish case.
Bonk (BONK): The Solana meme coin has been on a tear in December, skyrocketing by a whopping 818%. However, a recent correction has brought its price down 38%. Should this downward pressure continue, $0.000018 (50% Fibonacci) could act as a springboard for a rejuvenation of the bullish sentiment, potentially pushing BONK back towards $0.00035. The upper Bollinger Band further strengthens this bullish outlook.
Injective (INJ): Injective’s price action showcases a rounding bottom pattern, indicating a gradual upward trajectory that culminated in a breakout above the $25.4 resistance on December 13th. This breakout offers a long-entry opportunity for investors. While a slight retracement is possible, holding above the $25.4 level paves the way for a potential 68% rally towards $50. However, the high Average Directional Index reading suggests a potential for a minor pullback before the surge.
In conclusion, while the current market correction might seem worrisome, it presents a unique opportunity for selective token accumulation. LUNC, BONK, and INJ, with their strong technical indicators and promising fundamentals, are prime candidates for a potential rebound in the coming days. Remember, proper risk management and thorough research are crucial before making any investment decisions.
About The Author
