• About
  • Contact
  • Privacy Policy
  • Terms and Conditions
Saturday, May 31, 2025
The VR Soldier
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
The VR Soldier
No Result
View All Result

Will Bonk (BONK) Bulls Spark a Rally Anytime Soon?

Jordan Avery by Jordan Avery
August 14, 2024
in News
Reading Time: 2 mins read
0
bonk-kangamoon
Share on TwitterShare on Facebook

Technical indicators paint a promising picture for the price of the popular memecoin Bonk (BONK). However, the real state of affairs on the market suggests that it will be difficult to start a rally

Bonk Bulls Gain Strength

The market is starting to take more interest in the BONK memecoin. This is indicated by the moving average convergence/divergence indicator (MACD) – at the time of writing, the MACD line (blue) is trying to cross the signal line (orange) from the bottom up.

Will Bonk (BONK) Bulls Spark a Rally Anytime Soon?
BONK Moving Average Convergence/Divergence. Source: TradingView

This signal is called a “bullish crossover” and indicates a possible change in momentum from bearish to bullish and the beginning of a rally. The crossover suggests that the short-term moving average is rising faster than the long-term one. Therefore, traders perceive this pattern as a signal to buy.

In addition, the Parabolic Stop and Reverse (SAR) indicator points for BONK have been below the price since August 8th. This indicator tracks trends in the asset’s price dynamics and identifies potential reversal points. When the SAR dots are below the price, the market is in an uptrend and the Parabolic SAR acts as a support level.

Parabolic Stop and Reverse BONK. Source: TradingView
Parabolic Stop and Reverse BONK. Source: TradingView

This technical picture is another positive signal for traders. It hints at a possible price increase, so market players are actively buying up cryptocurrency or entering long positions. Interesting fact: out of 1.7 million memecoins launched on Pump.fun, only 15 were profitable. How this happened and what is happening with the failed meme tokens now.

Price Forecast: Rally to Start Will Be Difficult!

The indicators described above paint a bullish picture for BONK, but the current demand for the memecoin may not be enough to trigger a full-fledged rally.

Thus, the relative strength index (RSI) remains below the neutral line at 40.80. This indicator measures overbought and oversold market conditions. Its current values ​​indicate low buying pressure compared to seller activity.

BONK Price Analysis. Source: TradingView
BONK Price Analysis. Source: TradingView

In addition, the Chaikin Money Flow (CMF) index for it remains negative. This suggests that the memecoin market is currently not liquid enough. Under such conditions, potential price growth seems difficult. However, If buyer demand remains low, the price risks falling to $0.000015. However, in a favorable scenario, the memecoin rate, on the contrary, may rise to $0.000022.

Tags: BONKCrypto RallyMemecointechnical analysis
Previous Post

dYdX Network Readies for Game-Changing Upgrade!

Next Post

DePIN Token Filecoin (FIL) Tries to Break Out of Downtrend

Related Posts

Solana Price Prediction:Is the $200 Dream Dead
News

Solana Price Prediction:Is the $200 Dream Dead?

May 31, 2025
Featured

Netflix Casts Leads for FTX Drama

May 30, 2025
Featured

Trump’s Meme Coin Dinner Under Investigation

May 29, 2025
Altseason Is Here—But Only for a Few Minutes
News

Altseason Is Here—But Only for a Few Minutes

May 28, 2025
Bitcoin Shakes as Trump Talks Tariffs Again
Featured

Bitcoin Shakes as Trump Talks Tariffs Again

May 27, 2025
Bitcoin Price Prediction For The Holiday—Breakout or Breakdown Coming
Market Analysis

Bitcoin Price Prediction For The Holiday—Breakout or Breakdown Coming

May 26, 2025

Press Releases

Bitcoin Gains Ground as Job Market Wobbles—Digital Gold to the Rescue?
News

Bitcoin Gains Ground as Job Market Wobbles—Digital Gold to the Rescue?

by Alex Mercer
May 25, 2025

Introduction It seems the U.S. labor market has hit a pothole—again. The Kansas City Fed’s Labor Market Conditions Index (LMCI)...

Read more
Altcoin Season Is Loading—But First, Let Bitcoin Do Its Thing

Altcoin Season Is Loading—But First, Let Bitcoin Do Its Thing

May 23, 2025
Dogecoin’s Ready to Bark Again—Could $0.30 Be the Next Fetch?

Dogecoin Ready to Bark Again—Could $0.30 Be Next

May 20, 2025
Ethereum Climbs While PEPE Reloads—Who's About to Explode

Ethereum Climbs While PEPE Reloads—Who’s About to Explode?

May 18, 2025
Trump Meme Coins Spark Calls for Treasury Review

Trump Meme Coins Spark for Treasury Review

May 15, 2025
The VR Soldier

© 2024 The VR Soldier

Navigate Site

  • About
  • Contact
  • Privacy Policy
  • Terms and Conditions

Follow Us

No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases

© 2024 The VR Soldier