On October 21, BONK price traded above the key EMAs and formed a golden cross, a 20% surge is likely in the following days.
The 20-day EMA line has crossed the 50-day EMA on an upward side, signaling a bullish shift in momentum and indicating upward price movement in the following sessions.
Also, when the shorter EMA crosses above the longer one, it means that the short term bullish trend was intact.
In a recent tweet on X, cryptopunkrock said that BONK crypto bounced from the 23.6% Fib level and witnessed accumulation.
A daily close above the descending trendline of $0.00002400 would give another crossover of 50-day and 200-day EMAs.
The Relative Strength Index (RSI) line stayed above the midline region, around 56 at press time, forming a positive divergence, signaling a bullish outlook.
The Moving Average Convergence Divergence (MACD) indicator signaled bullishness; the MACD line stayed above the signal line, conveying a positive stance.
