📊BONK/USDT Technical Analysis and price prediction 📉
Current Price: $0.00003193 🚀 (+20.81%)
The BONK chart on the 4-hour timeframe displays a strong bullish trend, with prices hitting a high of $0.00003425 before experiencing a slight pullback. Let’s analyze the technical indicators:
🔍 Bollinger Bands
The price has pushed past the upper Bollinger Band at $0.00003190, indicating a strong upward momentum. This suggests high buying interest, though it also signals potential volatility ahead.
💹 RSI Levels
• RSI(6): 74.61 (approaching overbought levels)
• RSI(12): 73.31 (overbought)
• RSI(24): 70.91 (overbought)
With all RSI values above 70, BONK is in the overbought zone, indicating a possibility of consolidation or a minor correction soon.
📊 MACD
The MACD line at 0.00000215 is trending above the signal line (DEA) at 0.00000166, showing a bullish crossover. This further supports the ongoing upward momentum.
🔥 Volume
There’s a noticeable surge in trading volume, reaching over 1 trillion, which reinforces the strength of this uptrend. A sustained increase in volume can drive BONK towards new highs.
📈 Doc’s Prediction
If the bullish momentum holds, BONK could aim to retest its recent high of $0.00003425 and potentially push toward the $0.000035 mark. However, with overbought conditions, a minor pullback to the support level at $0.00002839 is also likely before the next upward move.
⚠️ Note: Traders should watch for a correction or consolidation due to high RSI levels. Momentum remains bullish, but caution is advised for new entries.
#WillBTCBreak100KSoon #cryptomarketcapATH #BTCBreaks89k #Devcon2024 #HaveYouBinanced
