#bonk BONK Coin Price Prediction
The RSI is below the overbought zone and is trending towards the neutral 50 level. The RSI, which dropped to 62, would indicate overbought if it was above 70 and oversell if it was below 30. In its current state, investor appetite appears to have relaxed in favor of sellers. Since the Elder-Ray Index also remains positive, albeit weak, it offers an outlook in favor of the bulls.
If buying pressure outweighs selling activity, BONK Coin may attempt to breach the upper line of its ascending channel at $0.000045. However, in the current circumstances, with BTC price failing to sustain higher levels, $0.000027 could be the first stop.
Key Takeaways
– Bitcoin price rose to $71,758.
– BONK Coin is stalling at $0.000034 and has formed an ascending channel.
– Open positions in futures transactions decreased to 14.62 million dollars.
– The RSI value is 62 and is trending towards the neutral 50 level.
– BONK Coin could test $0.000045, but retreat to $0.000027 on the decline.
Bitcoin price is at $71,378 at the time of writing. Climbing up to $71,758, BTC encountered some profit selling here. Since it has reached its peak with rapid demand from buyers, there is a high risk that investors will panic and turn to profit selling. This may have negative consequences for BONK Coin. The total volume of cryptocurrencies increased by 15%, exceeding $ 88 billion, and the total market value is on the verge of $ 2.64 trillion.