#Bonk.Coin Price Forecast After Dropping 33% from Highs: Is It Time to Sell?

#The.price.of.Bonk.coin.fell.by.11% over the past 24 hours, reaching $0.00001918, which represents a 33% decline from its all-time high of $0.00003416, which it reached on Friday, indicating the possibility of the coin retaining some of the momentum that brought it to this peak. Even if traders start selling them to make profits. But we must not forget that it is a meme currency, and therefore there is no guarantee that it will regain a state of growth, unlike alternative currencies that have strong foundations, and therefore the BONK currency may suffer for a period before major investors raise it again. Bonk Coin Price Forecast After Dropping 33% from Highs: Is It Time to Sell?

Bonk coin may witness a continuous decline before it begins to rise again, as its technical indicators are in the overbought zone. The Relative Strength Index (purple) is falling sharply after rising to near 90 in the past two weeks, and this level usually indicates overbought. #Source:TradingView The 30-day moving average (yellow) has risen strongly over the past two weeks, but it has risen significantly compared to its 200-day counterpart (blue), so it may start to ease and decline in the next few days. In the foreseeable future, the price of BONK depends on the success of the support level (green) in preventing the price from falling sharply to the levels it recorded at the end of November. If it can prevent a drop below $0.000010, for example, it will be able to recover more quickly, but falling below this level may mean that traders have already abandoned the currency, and thus it will see a further decline. Thus, the rise that the currency has witnessed over the past two weeks is largely due to the new smartphone Solana Saga granting its buyers BONK coins through free distributions.

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