Traders hold $785K in long positions, reinforcing bullish sentiment.
Bonk price prediction has been a major focus especially due to the prolonged bearish trend that the meme coin has been experiencing. Since November 2024, the asset has dropped by 76% and this has affected the confidence of the investors. However, the latest Bonk price prediction indicates a bullish outlook after managing to retest the support level of $0.0000102. The weekly chart recently formed a Doji candle, which points to a potential reversal.
Bonk Price Prediction: Technical Analysis and Key Levels
Bonk price prediction is on the rise as the trend of the meme coin is being closely observed. Daily trading volumes continue to rise as trading activity in BONK increased by 110% within the last 24 hours. The token has broken past the $0.000013 resistance, reinforcing bullish sentiment in the market.According to technical indicators and trends, it appears Bonk price prediction could reach $0.000017 in the future, assuming an increase of 22% from the current value. This level has been a support level in the past and is now a resistance level. However, this bullish breakout is still below 200 Exponential Moving Average on the daily chart, which means that long term recovery is still in operation for BONK.
Bonk Price Rally and Market Trends
Bonk price prediction shows that BONK may rise by 60% higher in the next few days, and reach $0.000026. The outlook depends on the continued buying interest and market engagement. However, in case the buyers continue to be in control it might go even higher from that level. Therefore, if buyers embark on the asset, it might further catapult to the upside.According to on-chain data from Coinglass, long-term investors are steadily accumulating BONK tokens. Spot Inflow/Outflow shows sustained outflows again signifying a trend of purchasing rather than selling. Thus, there has been $310K worth of BONK outflows in the last 24 hours, which supports the positive sentiment in the market.Source: Coinglass
Trader Sentiment and Market Positioning
Bonk price prediction prove that the investors have continually grown, and most traders are even extending their leveraged positions. There is also an increase in whale and long-term holder activities, which are an indication of their confidence in BONK. According to Coinglass data, the popular trading zones are in the range of $0.00001261 and $0.00001419 and reflect the active trade area.Currently, long-positions are at $785K and short-positions stand at $425K demonstrating the bulls’ sentiments among traders. If this buying momentum accrues, it might sustain the rally toward the desired resistance levels for BONK. However, if the bulls become weaker, the asset may retrace lower before continuing the upward momentum.Source: Coinglass Meanwhile, Bonk price prediction depends on the continuation of trading volume, accumulation to, and support levels. The 200 Exponential Moving Average is still an important level of resistance, but it’s breakout would signal long-term reversal. The price action of BONK has been impressive, and as investors adjust their positions, the coming week will define its bullish run.
