One of the most popular meme coins in the Solana ecosystem, BONK, is trading within a bullish pattern, showing signs of an imminent rally resurgence.
This optimistic scenario hinges on whether BONK holders maintain a positive outlook on the asset’s future price dynamics.
BONK is gearing up for a new rally Currently, the price of Bonk is demonstrating bullish signs, indicating a potential recovery. The primary obstacle to meme coin price growth typically becomes a decline in trader enthusiasm post-correction as many market participants shift focus to other assets.
However, BONK traders are currently optimistic, indicated by a positive funding rate. This suggests that the number of long positions in the futures market significantly outweighs the short positions.
BONK Funding Rate Additionally, the Moving Average Convergence Divergence (MACD) indicator, used to determine trend direction, signals a bullish impulse. Currently, the MACD hints at a bullish crossover, marked by a green bar on the histogram, further indicating potential price growth.
BONK Price Forecast: 60% Increase At present, Bonk is moving within a descending triangle pattern. A successful breakout from this pattern would lead to a 62% increase to $0.00004188 upon overcoming several resistance levels.
However, a sharp decline in trader interest in the meme coin could provoke continued correction. If BONK falls below the key support level of $0.00002157, the bullish scenario will be nullified.