Solana-based dog-themed meme coin Bonk (BONK) has seen its worth improve by 37% within the final seven days. This improvement got here after the broader market skilled a major restoration, and different meme coin costs additionally jumped.
Whereas some meme cash have seen their good points erased, BONK seems to be exhibiting immense energy. In consequence, the worth might be set to go increased within the brief time period.
The Solana Meme Coin Stays Robust
With Bonk buying and selling at $0.000024, the Superior Oscillator (AO) on the day by day chart helps a bullish outlook. The AO is a momentum indicator that compares current worth actions to historic developments, utilizing a zero-line sign to find out whether or not momentum is bullish or bearish.
When the AO studying is beneath the zero line, momentum is bearish, and when it’s above, momentum is bullish. At the moment, BONK’s AO reveals bullish momentum, suggesting that the current sideways motion might quickly result in a major upswing.
Learn extra: Learn how to Purchase Solana Meme Cash: A Step-By-Step Information
Moreover, the Bull Bear Energy (BBP) aligns with this sentiment. The BBP reveals the energy of patrons (bulls) and the energy of sellers (bears).
When the BBP climbs, bulls are in management, indicating that the worth can improve. Conversely, if the BBP is damaging, bears are dominant, and the worth may drop if it intensifies. On the day by day chart, BONK’s BBP is constructive, suggesting that the worth can go a lot increased than $0.000024.
BONK Value Prediction: The Rally Could Proceed
The day by day chart reveals BONK’s worth nearing $0.000026, although it may encounter resistance at this degree. With the present bullish momentum and dominance, the token might break by means of this area.
If profitable, BONK’s short-term goal may rise to $0.000030. Nevertheless, this relies on whether or not bears can keep away from pulling the worth again to $0.000021.
Learn extra: 11 Prime Solana Meme Cash to Watch in October 2024
If shopping for stress intensifies, BONK’s worth may rally towards $0.000035. Conversely, a drop in shopping for exercise may invalidate this forecast, doubtlessly pushing the Solana meme coin all the way down to $0.000021.
Disclaimer
According to the Belief Venture pointers, this worth evaluation article is for informational functions solely and shouldn’t be thought of monetary or funding recommendation. BeInCrypto is dedicated to correct, unbiased reporting, however market circumstances are topic to vary with out discover. All the time conduct your individual analysis and seek the advice of with an expert earlier than making any monetary selections. Please be aware that our Phrases and Circumstances, Privateness Coverage, and Disclaimers have been up to date.
