$BONK Price Prediction: Momentum Fades, $0.000024 Next?  - BeinCrypto Analytics

Apart from the sentiment displayed, the indicators on the daily chart align with the forecast above.

For instance, the Relative Strength Index (RSI), which measures momentum, initially ran to 60.45. But it has retraced to 56.83 at press time, indicating a waning bullish momentum.

In addition, the Directional Movement Index (DMI) suggests a similar movement. The DMI measures the strength and direction of a token’s price. 

As of this writing, the +DMI (green) is higher than the -DMI (red), meaning buyers had more strength than sellers. However, for BONK’s uptrend to continue, the Average Directional Index (DMI) has to support the rise. For that to happen, the ADX (yellow) has to be at a reading of 25.00 or above. But it is lower at press time, reinforcing the notion of a consolidation or downtrend. 

According to the Fibonacci retracement tool, BONK’s next target could be $0.000024. However, this prediction will be invalidated if meme coins begin to lead the broader bounce again.

If this happens, the price of BONK will retest $0.000028, and a move to $0.000031 will become feasible.