💲 BONK Price Update💲
This Is the Direction BONK Price Could Take Following 20% Decline 🛡️
Hey everyone! Let's dive into the latest on BONK, the meme coin known for its wild moves. Recently, BONK hit a new all-time high, but couldn't sustain the climb and took a steep dive. Here's what's happening now:
🔻Investor Sentiment & Open Interest
- Open Interest has dropped by $8 million in just 48 hours, from $24 million to $16 million.
- Despite a positive funding rate, the decline in Open Interest signals bearish sentiment.
🔄 Relative Strength Index (RSI)
- The RSI remains above the neutral line at 50.0.
- RSI is a momentum oscillator that ranges from 0 to 100. Readings above 70 indicate overbought, below 30 indicate oversold.
- Currently, the RSI suggests a potential bullish momentum if it continues to stay above 50.
🔮 **Price Prediction:**
- Mixed signals in the market suggest BONK might see sideways action.
- Expected to consolidate between $0.00003769 and $0.00003182.
- A breakout above $0.00003769 could push BONK towards $0.00004000, leading to a potential rally.
Stay tuned for more updates and keep an eye on the charts! 📊
