Bonk Price Expected to Record a New All-time High Next Month?

Bonk price has witnessed strong selling pressure for a month and lost around 50%. On a wider time frame, the BONK price has been moving in a positive direction

The Bonk price has been under immense selling pressure for the past month, and the price has dropped by nearly 50%. On a higher time frame, the BONK price has been moving in a positive direction but is showing slow growth. The Bonk price has tried twice to overcome the $0.0000400 hurdle for the upper case but failed.

The price has been rising by taking support on the trendline, and it has dropped to the trendline. The digital asset price has taken support on the trendline and shown bullishness.

At press time, the Bonk price traded at $0.0000223, which has increased by 2.33% in the last 24 hours. The 24-hour trading volume is $294.92 Million, with an intraday gain of 105%. The market capitalization is $1.51 Billion, and the fully diluted market cap is 2.07 Billion.

Price vs. Volume Analysis in Bonk

Since the last week of May, the trading volume has declined by 75%, which has affected the price negatively. The volume has decreased for the past few weeks, followed by the Bonk price. However, the trading volume has increased by approximately 200% in the past 2 days, which may help with a bullish forecast.

Bonk Price Expected to Record a New All-time High Next Month?

On a broader time frame, the Bonk crypto price has formed a strong reversal candlestick at the trendline, and the trading volume has increased. The volume increase indicates that the buyers are showing interest, and the price has risen by more than 20% in a few hours.

According to the historical chart, the Bonk price has been paying respect to the trendline and has gained bullish momentum. Buyers may participate if the price surpasses the 20-day EMA and sustains. Getting support buy volume during this bullish momentum might lead to strong buying pressure and extend to a new all-time high.

On the other hand, if the BONK price fails to defend the trendline, sellers might show interest. The price below the trendline is a strong bearish sign, and bears may take charge and lead the trend.

Based on the technical indicators, the RSI is 41, generating a bullish crossover with the RSI-based moving average.

Bonk Price Expected to Rebound?

$BONK with a near perfect triple divergence down here and showing some of the strongest PA on the day. pic.twitter.com/rbvmciVJp5

In a 4-H time frame, the Bonk crypto price has remained bearish, but a bullish divergence has been observed. The triple divergence has helped to lift the price by 20% in a few hours.

Bonk price has remained bearish in the short term but has shown positive growth in the longer term. The price seems to defend the trendline and show some bullish momentum. Bonk crypto price has attempted twice to sustain the $0.0000400 hurdle, but sellers were strong enough, and profit booking was seen.

Technical Levels

Bonk price may face resistance from the $0.0000290 and $0.0000400 levels. Sellers might face difficulty at the $0.0000200, $0.0000140, and $0.0000100 mark.

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.