BONK prices return to consolidation amid growing optimism
BONK prices are trying to recover losses incurred during the recent 51% correction.
MACD shows a bullish crossover for the first time since early June.
Funding levels remain low as investors are uncertain about the direction of the coin #meme .
The price of #BONK has declined significantly in recent weeks, and the altcoin has reached a two-month low.
Mixed signals from the broad market and investor skepticism point to different development paths.
With markets bullish and investors bearish, BONK prices may show a sideways trend in the coming weeks. The moving average divergence indicator (MACD) recently showed a bullish crossover. This happened for the first time since early June.
This technical indicator indicates a possible change in momentum and could signal a future uptrend in #cryptocurrencies .
However, despite the bullish MACD signal, BONK's funding level continues to decline. Negative and positive crossovers indicate that investors are still unsure about the future direction of the coin, suggesting a lack of confidence in a sustainable uptrend.
The conflicting signals between the MACD crossover and the declining funding level emphasize the cautious sentiment prevailing among BONK investors. Although technical indicators may point to upside potential, the overall market sentiment appears indecisive.
As a result, BONK prices may demonstrate sideways dynamics.
In June, the price of BONK fell 51% and traded at $000001950 before recovering slightly and consolidating above $000002212. At that time, the altcoin scared investors, who subsequently changed their positions from bearish to bullish.
However, mixed signals suggest that BONK is likely to consolidate in the coming days. The range could be $ 000002748 and $ 000002212.
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