BONK price prediction: surging demand boosts bullish market sentiment, expected to break recent highs.

On-chain data analysis shows that the demand for Meme coin Bonk (BONK) has significantly risen recently, with a strong bullish sentiment in the market. As of the time of writing, data indicates that the BONK price has only pumped 4% in the past 24 hours, but the Open Interest has surged by 8%. This increase in crypto assets speculation is another key indicator of the market’s strong bullish momentum.

▍How does BTC movement affect BONK price? Bitcoin Price Prediction has a significant impact on the entire altcoin market, including Meme coins. If Bitcoin (BTC) falls below the $107,300 key support level, it may reverse short-term market expectations to bearish. Conversely, if Bitcoin can maintain a sideways consolidation or continue its upward trend, then BONK has a good chance to challenge and break through its recent high, achieving a Crypto Assets price breakthrough.

▍BONK makes a strong rebound, aiming for the May high On July 5th, BONK successfully broke through the $0.000018 mark, sending a clear signal of market recovery. The subsequent strong rebound helped it conquer the important psychological barrier of $0.00002, confirming the previous AMBCrypto report’s bullish expectation for BONK in the short term.

• On-Balance Volume Indicator (OBV) has significantly surpassed the May high, indicating strong buying pressure.
• The daily trading volume histogram of the past few days shows an abnormal increase in trading volume.
• This strong Crypto Assets demand may push the BONK price to test the May high of 0.000025 USD.
• Fibonacci extension analysis shows that the 23.6% level ($0.0000298) is the next viable price target for bulls.

▍Key Resistance and Trading Strategy However, traders should be cautious: before the weekly chart successfully converts to support in the $0.000026 area, the overall structure still leans towards bearish.

• Liquidation Heatmap confirms the expectations on the price chart: the 0.0000256 - 0.0000262 USD area is a significant magnet zone/liquidity pool.

• The liquidation level gathered here indicates the possibility of a price reversal downwards.

• Given the current bullish momentum and demand remaining strong, the liquidity cluster above may only trigger a slight pullback, after which the price may attempt to rise again.

  

Crypto Assets Trading Strategy Suggestions: Traders who already hold BONK long positions may consider partially taking profits as the price approaches the $0.000026 area, and closely monitor the subsequent price movements before deciding on the next steps.

Gate market shows that BONK is currently priced at 0.00002339 USD, with a 24-hour rise of 6.56%.

Note: The above content is not investment advice, please make decisions cautiously and be aware of risks.