- With a 5% gain, BONK is trading around $0.0000068.
- Bullish momentum builds on the technical chart.
The meme coin market cap today is holding at around $36.20 billion, and the Solana-based token, BONK, has posted a gain of over 5.99% in the last 24 hours. At the time of writing, it was trading around $0.000006897. If the momentum is gaining more traction, the price action would see steady upside.
Over the last week, the meme coin has been actively attempting to move on the upside with a 15% surge. The lowest trading point is noted at $0.0000058. After multiple tests, BONK has currently broken the bearish chains and is likely trading on the upside.
If the asset’s bulls could sustain the active positive momentum, the BONK price would rise to the $0.000007048 resistance. Continued gains might trigger the emergence of the golden cross, and the price is expected to hit high targets around $0.000007255.
On the support side, upon the BONK losing its ground, the price might get pulled back to the $0.000006649 range. A potential decline could initiate the formation of the death cross, driving the meme coin to plummet toward the $0.000006437 level or even lower.
Technical Signals Point to Upside Potential for BONK
BONK’s technical chart exhibits that the Moving Average Convergence Divergence (MACD) sits above the signal line, and both are found above zero. The market is moving up, and the recent price action is stronger than the broader trend. As long as this setup holds, the uptrend tends to stay intact.
Moreover, the Chaikin Money Flow (CMF) indicator of the meme coin at 0.04 shows a slight tilt toward the buying side. More money is coming into the asset than going out, but not strongly yet. This points to a steady market move, unless the buying pressure starts picking up.
The ongoing market sentiment of BONK is bullish, as the daily Relative Strength Index (RSI) settles at 61.82, with the buyers having the upper hand. There is still room for the trend to continue without the immediate pressure of a reversal. If it keeps climbing toward 70, it might be stretched.
Besides, the BONK’s Bull Bear Power (BBP) reading of 0.00000051 is in the neutral zone. It is so close to zero that there is no advantage for either buyers or sellers. This setup indicates sideways movement or indecision, unless the momentum starts to build from here.
The active market sentiment of the meme token is positive, and with the bullish wave maintaining its strength, the uptrend would revisit its key recent highs above. While a bearish turn could nullify the gains. For a clearer view of what lies ahead, dive into our detailed outlook covering Bonk (BONK) price predictions for 2026, 2027, and through 2030.
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Source: https://thenewscrypto.com/bonk-builds-bullish-momentum-will-it-climb-higher-and-clear-resistance-ahead/
