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- RSI has climbed to 56 from 35 in the past 2 days, indicating buyers’ engagement.
- The BONK price has risen by 27% over the last 2 days.
Bonk’s (BONK) price has witnessed mild bullish momentum from the beginning of 2024. It has been rising because of support from the trendline.
Recently, it has taken support on the significant trendline and has risen by 27% in the past 2 days. The price has surpassed the key moving averages, which showcases the bullish momentum.
Price rejection from the primary support level could trigger massive bullish momentum. It has the potential to smash the last swing high. Bonk coin price prediction suggested a bullish trend ahead.
Technical Analysis of BONK Price Over 1-D Timeframe
Bonk crypto was trading at $0.0000225 at press time, which has surged by 16.98% over the past 24 hours. The market capitalization was $1.68 Billion, and the 24-hour trading volume was $386.42 Million.
The BONK price has experienced strong buying momentum on the major trendline. Buying pressure on the trendline could trigger a bullish trend for the next few weeks.
Buying momentum can be seen if the price sustains over the key moving averages. The trading volume has increased by 230% over the past 24 hours. That could lead to a bullish trend.
If the BONK price surpasses the $0.0000250 mark, it may reach the last swing high by gaining 80% ahead of 2025.
Conversely, if the crypto asset price faces resistance from the recent high, it could generate selling pressure. A short-term profit booking may drag down the price to the major trendline. Sharp selling momentum could be anticipated if the price starts trading below the trendline.
The RSI has displayed a golden crossover with the RSI-based moving average regarding the technical indicators. It has rapidly traveled to the 56 and is heading toward the overbought zone. The BONK coin price has smashed the key moving average, indicating bulls’ dominance.
Is Bonk Price Ready to Shoot Up After the Breakout?
Clifton Fx (Clifton_ideas) is a crypto analyst who has shared his analysis about BONK crypto on X. He displays that the price has formed a symmetrical triangle pattern on a 3-D timeframe. Based on the chart, the price has been wandering in the breakout territory.
If the BONK price triggers a breakout from the triangle, it could collect 290% in the next few months. The cryptocurrency market is bullish, which enhances the chances of a breakout. The continuous pushes from the downside indicate the presence of buyers.
BONK Price Prediction Based on Chart
Bonk Coin price prediction has shown promising signs of bullish momentum, highlighted by its recent 27% price increase. Additionally, strong buying activity around the major trendline can be seen. The relative strength index (RSI) increase indicated heightened buyer engagement. That could support further price gains.
BONK may maintain its position above key moving averages and surpass critical resistance levels. If this happens, a potential 80% price increase ahead of 2025 could be on the horizon. However, vigilance is necessary, as any rejection from recent highs or sustained selling pressure could lead to significant pullbacks.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
