BONK soared 17% in the past 24 hours, indicating a continued bullish trend. The increase in trading volume and price enhancement have strengthened the strong bullish momentum.
BONK experienced a sudden massive surge on June 25th. In the past 24 hours, its price has risen by 17% due to intensified trading activity.
The price of BONK is currently above the Ichimoku Cloud, indicating a strong bullish trend. In this case, the cloud serves as support, indicating that as long as the price remains above the cloud, the bullish trend will continue.
Are the bulls back?
With the price surge and significant increase in trading volume, the strength of the bulls has been confirmed.
The RSI is around 44.56, indicating that the asset is neither overbought nor oversold. This means that there may still be room for upward movement without immediately worrying about a pullback due to overbuying.
The social volume and dominance of BONK have also sharply increased. While increased attention can lead to price spikes, it also increases speculative trading risks for the asset.
BONK’s CM Ultimate MACD is moving near the zero line, showing the difference between the 12-period and 26-period exponential moving averages. The red and green dots represent the crossover points of the bullish and bearish markets, respectively.
Frequent crossovers of the MACD line above and below the signal line indicate a highly active market, with traders having multiple potential entry and exit points.
The sustained position of the price below the 200-day moving average indicates long-term bearish sentiment. The 0.000002768 level (200-day MA) is considered a recent key resistance.
Support may form near the recent low point, and it is necessary to observe whether the stochastic indicator provides a confirmed buy signal, continuing to move upwards and enter the overbought zone.
The historical peak price of Bonk is $0.00004547, reached on March 4, 2024, four months ago. Currently, the price is 49.48% lower than this peak.
