BONKBONK rallies 15% as bullish momentum strengthens – More gains ahead?
If buyers can keep up the momentum, BONK could rally by 32% to the 1.618 Fibonacci level.
Bonk [BONK] is mirroring the gains across the broader cryptocurrency market. At press time, the memecoin traded at $0.00002507, after rising by more than 38% in just seven days.
During this time, BONK’s market capitalization increased from $1.2 billion to $1.8 billion.
Market interest in this altcoin continues to rise as in just 24 hours, trading volumes had surged by more than 272% per
BONK’s rally has coincided with that of Dogecoin [DOGE] and Shiba Inu [SHIB], an indication that meme coins are amassing buyer interest.
On its one-day chart, BONK showed strong bullish sentiment after the 50-day Simple Moving Average (SMA) crossed above the 100-day SMA. This crossover coincided with a bullish candle, highlighting the strength of the uptrend.
Buyers are driving these gains, as the Relative Strength Index (RSI) with a value of 65 showed. This metric is tipping north after crossing above the signal line, suggesting that the buying pressure is gaining strength.
If buyers can keep up the momentum, BONK could rally by 32% to the next resistance level at the 1.618 Fibonacci level ($0.00003447). #DollarIndexHighestSinceJuly #WillBTCBreak100KSoon? #BTCBreaks89k