BONK is preparing for new highs.

$BONK price has increased by 74.63% in the last 7 days and is now challenging the $4 billion market cap target.

This momentum in the popular memecoin is supported by the RSI (Relative Strength Index) indicator, which is at 62.95. Other important indicators, the Ichimoku Cloud and EMA lines, also confirm a strong uptrend. If this positive momentum in BONK continues, the price could test $0.00006 and renew ATH. However, in a downward movement, it could pull back to $0.000033 and $0.000021.

BONK’s RSI value is currently at 62.95 and was above 70 when it reached new highs a few days ago. This decline indicates a brief pause in momentum, but the current upward trend continues.

The Relative Strength Index (RSI) tracks price momentum, with values ​​above 70 indicating overbought, and values ​​below 30 indicating oversold. The RSI at 62.95 shows that BONK is still in bullish territory, but there is room for growth before it reaches overbought levels. The current RSI level suggests that BONK may target higher levels.

Elements such as the continuation of the memecoin trend, the increase in BTC price, or the decline in BTC dominance will support the BONK rise. In such a scenario, the $0.000075 level can be followed as resistance. Weekly closes above this level can strengthen the momentum and carry the price to $0.00010. In terms of market value, the $5 billion level can be considered a sales zone.

The Wolf of Main Street, known for its cryptocurrency analysis, attracted attention with the #BONK chart. According to the analyst, if the parity is strong, it should continue its rise without a retracement. The Wolf of Main Street, who stated that although buying BONK at the current price is risky, the reward can be great, thinks BONK is a strong pair. The main area that the analyst sees as suitable for buying is the blue box.