Bonk Price Could Hit a Wall Before Setting a New All-Time High
Bonk Price Could Hit a Wall Before Setting a New All-Time High
Bonk's price is approaching a critical resistance level that may lead to overbought conditions, despite investor optimism and high funding rates. The Relative Strength Index (RSI) nearing overbought territory signals a potential slowdown in the rally, with a prediction of a temporary rise to $0.00003769 before encountering strong barriers. Failure to breach key levels could result in a significant price correction for the meme coin.
Bonk Investors Bet on Gains
Bonk's price is observing the impact of the rising market's growth and BONK holders' optimism. The funding rate is a periodic payment between traders to keep the futures contract price close to the asset's price. Present high funding rate indicates traders' long positions.
- The RSI is a technical indicator gauging market conditions.
- RSI's current position suggests potential overbought status.
- Breaching key resistance is crucial for sustained gains.
- Failure could trigger significant price correction.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.