😱🚀🚀BONK Eyes Bullish Breakout to 0.00015150 USDT, Analyst Predicts
#BONK Price Targets
Clay sets three price targets should it break above its current resistance. The initial target is 0.00007430 USDT, indicating early bullish confirmation. The second target, the Ascending Triangle Target, is 0.00011270 USDT, indicating that the upward trend continues. Due to strong buying activities and market optimism, the most optimistic target is 0.00015150 USDT.
Despite these trends, $BONK Futures Open Interest increased by 4.34% in the last 24 hours, reaching 9.45 million dollars. Additionally, the Long/Short Ratio Chart reveals an almost balanced distribution between long and short positions; long positions are 50.1% and short positions are 49.9%. This balance suggests a state of market instability in which neither buyers nor sellers currently dominate.
Analysts maintain a positive outlook on BONK's future, anticipating possible price increases. Prominent analyst Alex Clay put forward an optimistic outlook for the BONK/USDT trading pair, suggesting that there is bullish momentum due to the ascending triangle formation. This pattern shows higher lows approaching horizontal resistance at 0.00002954 USDT. The token has tested this resistance multiple times, signaling a potential breakthrough.
BONK Price Targets
Clay sets three price targets should it break above its current resistance. The initial target is 0.00007430 USDT, indicating early bullish confirmation. The second target, the Ascending Triangle Target, is 0.00011270 USDT, indicating that the upward trend continues. Due to strong buying activities and market optimism, the most optimistic target is 0.00015150 USDT.
Technical indicators also support the uptrend. BONK is trading above the 50-day and 100-day Exponential Moving Averages (EMA) and is showing bullish momentum. The Relative Strength Index (RSI) is at 56.32, indicating that buying pressure has outpaced selling pressure and there is room for further upside without the risk of a significant pullback.
