BONK price is up 74.63% in the past 7 days, approaching the $4 billion market cap milestone. The current momentum is supported by bullish indicators, including an RSI of 62.95, signaling room to move higher before entering overbought territory.
The Ichimoku Cloud chart and EMA lines also confirm the strong trend, with the price trading well above key support levels. If this strength continues, BONK could test $0.00006 and reach new all-time highs, but a reversal could lead to a significant correction towards $0.000033 or $0.000021.
RSI is still below the overbought zone
BONK’s RSI is at 62.95, down from over 70 a few days ago when it hit new all-time highs. That dip marked a brief respite in momentum, but the current upward trend suggests the coin is regaining strength.
The Relative Strength Index (RSI) tracks price momentum, with readings above 70 indicating overbought conditions and below 30 signaling oversold levels. At 62.95, BONK remains in bullish territory but has room to grow before reaching overbought status.
RSI and BONK. Source: TradingView
The current RSI suggests the memecoin could see further upside before breaking above 70, potentially testing new all-time highs.
The renewed momentum could drive the price higher as buying pressure builds, as BONK establishes itself as the fourth-largest memecoin on the market and the largest in the Solana ecosystem.
Ichimoku Cloud Shows a Bullish Setup
Analyzing the Ichimoku Cloud chart for BONK, the price is trading well above the cloud, indicating strong bullish momentum. The main range (green cloud) shows continued upward movement, suggesting that support levels are building.
The Tenkan-sen (blue line) and Kijun-sen (red line) remain below the price, reinforcing the strength of the uptrend. This positioning highlights that buyers currently dominate the market.
BONK Ichimoku Cloud. Source: TradingView
If the uptrend continues, BONK could continue to test higher levels as Cloud projects more support ahead. The bullish structure is intact as there are no signs of a significant weakening in momentum.
However, any dip towards the cloud or below key lines such as the Kijun-sen could signal consolidation or trend reversal. For now, the Ichimoku Cloud signals the potential for BONK price to maintain its upward trajectory.
BONK Price Prediction: New All-Time Highs Coming Soon?
BONK’s EMA lines are showing a strong bullish setup, with short-term EMAs positioned above the long-term ones and the price trading above all of them. This alignment indicates sustained upward momentum as buyers remain firmly in control.
The bullish structure suggests the trend is intact, reinforcing confidence in BONK's near-term performance.
BONK Price Analysis. Source: TradingView
If the current trend continues, BONK price is poised to make new all-time highs, potentially testing the $0.00006 resistance level. However, if the momentum fades and the trend reverses, BONK price could face significant corrections, with support levels at $0.000033 and $0.000021.
A drop to the latter would represent a sharp 65% decline, emphasizing the importance of maintaining bullish momentum.
The article Is BONK Price Poised for New All-Time Highs? appeared first on BeInCrypto.
