In this Bonk technical analysis, we will examine the current price action, trading volume, key levels and indicators for BONK-USDT. Bonk (BONK) is a decentralized cryptocurrency that utilizes a novel consensus algorithm called “Proof of Burn” to incentivize users to hold and stake their coins. This approach allows for faster transaction times and lower fees compared to other proof-of-work blockchains. Additionally, Bonk’s innovative governance model enables community members to propose and vote on proposals for the project’s development and growth.
Bonk Price Overview:
As of May 14, 2024, Bonk is trading at approximately 2e-05 USDT. Let’s dive into the detailed price action for BONK-USDT:
| Metric | Value |
|---|---|
| Open (O) | 2e-05 |
| High (H) | 2e-05 |
| Low (L) | 2e-05 |
| Close (C) | 2e-05 |
| Volume (C) | 3,042,668,681,742.00 |
- Open (O): The opening price for today’s trading session was approximately 2e-05 USDT.
- High (H): Bonk reached a daily high of around 2e-05 USDT.
- Low (L): The daily low for BONK-USDT was approximately 2e-05 USDT.
- Close (C): At the time of analysis, Bonk is trading near its daily close of 2e-05 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 1.03% |
| 3D Change (%) | 2.70% |
| 7D Change (%) | -1.01% |
| 30D Change (%) | 44.92% |
| 90D Change (%) | 64.57% |
| YTD Change (%) | 76.67% |
Over the past three days, BONKUSDT has risen by approximately 2.70%, showcasing increased market volatility. Throughout the last week, it continued to decline, with a loss of around -1.01%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with BONKUSDT maintaining an upward trend of approximately 44.92%, despite intermittent fluctuations. Examining the last 90 days, BONKUSDT has witnessed substantial increase of approximately 64.57%, reflecting strong long-term confidence. Year-to-date, BONKUSDT has steadily increased by around 76.67%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Bonk Live Chart:
You can access a live price chart for BONK-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.84814.
- Momentum score is -0.04925.
BONK USDT Technical Analysis
Bonk Trading Volume:
The trading volume for Bonk (BONK) over the past 24 hours has been significant, with approximately 3,042,668,681,742.00 USDT traded against BONK. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): BONK is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Bonk is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for BONK-USDT is currently in the neutral zone, around 50.96412. This suggests that Bonk is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
Bonk (BONK-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the neutral RSI and significant trading volume are neutral signals for potential sideways movement.
Acknowledge bearish outlook for Bonk (BONKUSDT) at 2.35e-05 USDT with technical analysis, emphasizing weakened support and cautionary indicators.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.