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BONK price prediction: Is the memecoin preparing for a major move?

2min Read

Bonk’s rally faces critical resistance, with rising market interest hinting at further upside potential.

BONK price prediction: Is the memecoin preparing for a major move?

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  • Bonk tests key resistance at $0.00002250, while RSI signals potential overbought conditions.
  • Volume and open interest surges suggest sustained market interest and potential for further gains.

Bonk [BONK] has captured significant attention, following an impressive 14.65% surge at press time, bringing the price to $0.00002287.

With strong market activity and growing community interest, many wonder if this recent rally could signal a larger breakout. 

However, can Bonk hold key resistance levels and sustain this upward momentum? Let’s break it down.

Can Bonk break resistance?

The critical question traders are asking is whether Bonk can break through its resistance or face a pullback. Based on the technical analysis, Bonk was testing a key resistance level at $0.00002250 at press time.

The chart shows tightening Bollinger Bands, which often indicate a potential breakout. 

However, Bonk has struggled to push beyond this level before. Failing to break above this resistance could lead to a short-term decline.

Additionally, the Relative Strength Index (RSI) is currently at 81.55, signaling overbought conditions. 

Consequently, a correction might occur if Bonk cannot push higher from here.

Traders should, therefore, closely monitor the $0.00002200 level, as maintaining above this threshold could signal that the bullish trend will continue.

BONK TA breakdown

Source: TradingView

On-chain analysis: volume surge

Bonk’s trading volume has surged by a massive 96.26%, reaching $99.88M in just 24 hours at press time. This sudden increase in volume reflects heightened interest from traders. 

Additionally, high volume paired with price increases often suggests strong confidence in the asset. 

Therefore, Bonk’s volume surge could fuel additional price action if the trend holds. Consequently, the coin’s liquidity and market activity make it one to watch for the next phase.

BONK volume analysis

Source: Coinglass

Open Interest: What does it mean for traders?

Open Interest in Bonk futures has also risen by 67.02%, now sitting at $12.87M at press time, according to Coinglass.

Open Interest measures the total number of active contracts, and this rise indicates growing speculation in Bonk’s future price. 

Additionally, an increase in Open Interest often signals deeper market participation and stronger trader commitment.

Consequently, many believe Bonk’s recent rally may extend further, providing more opportunities for traders seeking long-term gains.

Source: Coinglass

Bonk’s impressive surge, supported by increased volume and rising open interest, suggests the coin could be on the verge of a larger breakout. 


Read Bonk’s [BONK] Price Prediction 2024–2025


However, if it fails to break resistance levels, a short-term pullback may follow. Therefore, traders should stay vigilant.

If Bonk holds strong, it could lead the next meme coin rally, driven by both market enthusiasm and technical indicators.

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Erastus is a dedicated cryptocurrency journalist and financial analyst with over 4 years of experience in the blockchain and fintech sectors. With a strong focus on digital currencies, decentralized finance (DeFi), and emerging financial technologies, he offers an in-depth analysis of market trends and developments. Erastus is committed to providing real-time, insightful content that helps the broader crypto and fintech communities stay informed about the fast-evolving financial landscape.
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