Technical Analysis ‼️ Quick for $BONK:

Japanese candlesticks and the most important technical indicators:

• The last candles show a strong rise followed by a slight correction, indicating profit taking after an upward wave.

• The presence of candles with long tails indicates high volatility and equal pressure between buyers and sellers.

Technical indicators:

1. EMA (Exponential Moving Average):

• EMA(7) is higher than EMA(25), indicating an upward trend in the short term.

2. Stochastic RSI:

• The Stochastic indicator shows a very high value (90.86), indicating that the currency is in the “overbought” zone, and may face a correction soon.

3. MACD:

• A positive intersection between the MACD line and the signal line with a move in the positive zone, indicating strong upward momentum.

4. RSI (Relative Strength Index):

• The RSI value at 76.45 shows that the market is in an “overbought” state, which calls for caution.

Recommendations:

• For speculators: Be careful not to open new positions as indicators reach overbought areas.

• For investors: Monitor support levels at 0.00004235 and resistance levels at 0.00006230.

• Warning: Current movements may be driven by short-term speculation, so risk management is essential.