💥 According to AMBCrypto: $BONK Price Prediction

The two-month range was highlighted in purple and extended from $0.0000136 to $0.0000286.

The price witnessed two rejections from the range highs in the past two weeks, but has not yet sunk below the mid-range support.

The RSI on the daily chart was at 51.7 to indicate momentum favored neither the buyers nor the sellers. Similarly, the CMF was also at -0.05.

This level is a threshold, and a lower reading will indicate significant capital outflow and selling pressure.

The lower timeframe price action showed that the $0.0000209 level was support and that another short-term range was formed in the upper half of the larger range.

Hence, scalp traders could look to buy a retest of this support with a tight stop-loss.

While the BONK price prediction indicated a short-term bounce from $0.0000209 was likely, it might not initiate a strong uptrend.

The Open Interest has been trending downward over the past three weeks to show speculators were sidelined.

They were unwilling to go long on the asset, but were not actively shorting the token either. This was inferred from the funding rate, which was just above zero.

The liquidations suggested that each sharp drop in the past week was accompanied by a gaggle of long liquidations, which pushed prices lower.