BONK Prices Are Predicted To Continue To Rise, Here Are The Indicators!

BONK prices are predicted to continue to rise (Photo; Doc. U.Today)

JAKARTA - Solana-based meme coin, Bonk (BONK), has recorded a price increase of 37% in the past seven days, as the crypto market recovers more widely. This increase shows the great power of the BONK over several other meme coins that have decreased. Predicted, BONK prices could potentially rise higher in the short term.

Currently, BONK is trading at IDR 0.00036. Based on the Awesome Oscillator (AO) indicator on daily graphs, positive momentum supports bullish trends. AO is a momentum indicator that compares recent price movements with historical trends, using the zero line to determine whether moderate momentum is bullish (up) or bearish (down).

With the reading of AO above the zero line, bullish momentum shows that recent sideways could lead to significant price increases.

Apart from AO, the Bull Bear Power (BBP) indicator also supports this positive sentiment. BBP measures the strength of buyers (bulls) and sellers (years). As BBP increases, it means that buyers are in control of the market, which indicates a chance of rising prices. On the other hand, if BBP is negative, the power of the seller dominates, and prices tend to fall. On the daily graph, BBP BONK shows the strength of the bulls, leading to a potential for further price increases.

Daily graphs show BONK prices approaching IDR 0.00039, although potential resistance may appear at this level. If the bullish momentum continues, the BONK price could penetrate this resistance and target a short-term rise to IDR 0.00045.

However, this movement will depend on whether sellers (ears) can withstand pressure or not. Otherwise, the price of BONK can go back down to IDR 0.00032.

If the buying pressure continues to increase, the price of BONK can rally towards IDR 0.00053. On the other hand, if the purchase activity decreases, this prediction can be canceled, and prices may be corrected back to IDR 0.00032.