Exploring BONK’s mixed signals: Should you go long, short, or stay sidelined?
2025-07-06 07:16:30
Main Idea
The article analyzes BONK's market performance, highlighting mixed signals from technical indicators that suggest both bullish and bearish possibilities for the cryptocurrency.
Key Points
1. BONK has rallied past June’s high due to considerable demand, but the $0.0000165 level must be defended in case of a pullback.
2. The weekly RSI has been below neutral 50 for most of 2025, indicating bearish dominance, but a move above 50 could signal a momentum shift.
3. The 1-day chart shows bullish signs, with the OBV making a new high compared to June and the RSI rising above neutral 50 after gains on July 5th.
4. Traders might consider waiting for the $0.0000183 level to be flipped to support before going long on BONK.
Description
Due to the increased demand during the rally, a move past the June high could occur in the coming days.
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