After emerging from a consolidation phase, BONK aims to reach the milestone of $0.0000712, mirroring the upward momentum of Bitcoin. However, BONK is particularly hopeful amidst the anticipation of Spot Ether ETF approval. In April, the Solana-based cryptocurrency began its recovery phase and has since maintained momentum for further growth.

Currently listed at $0.00003254, BONK has experienced a 4.50% increase in the past 24 hours, along with jumps of 35.27% in the last 7 days and 56.895% in the last 30 days. It has formed an inverted head and shoulder pattern following a significant increase of over 148% recently. Two technical indicators, the Exponential Moving Average and Average Directional Index, signal a buying trend.

Market cap and 24-hour trading volume have seen notable increases of 9.64% and 2.03%, respectively, at the time of writing. The crypto market has witnessed nearly $400 million in liquidation, primarily from short positions, with an Open Interest of $69.12 billion and a long-short ratio of 2.46.

BONK faces resistance levels between $0.00004 and $0.00006 before potentially surpassing $0.00008. Meanwhile, Solana, although rallying at a lower point, has seen a rise of 25.29% in the last 7 days and 17.13% in the last 30 days, with a market cap exceeding $80 billion.

BONK appears to be following a similar trend to BTC and ETH. BTC, nearing the $70,000 milestone, may reach as high as $84,000 by the end of June 2024, paving the way for $100,000 by year-end. Ether is currently listed at $3,745.86, up by 2.35% in the last 24 hours, driven by anticipation surrounding Spot Ether ETF approval, with an early judgment expected on May 22, 2024.