BONK Rallies 15%: Bullish Momentum Strengthens, More Gains Ahead?

BONK surges 38% in 7 days, with bullish crossover on 1-day chart indicating potential 32% rally.

Key Statistics:

- 38% gain in 7 days.
- 272% surge in trading volume (24 hours).
- 15% rally in recent movement.
- Market capitalization increases to $1.8 billion.

Technical Analysis:

- Bullish crossover (50-day SMA > 100-day SMA).
- RSI value: 65 (buying pressure gaining strength).
- Potential 32% rally to 1.618 Fibonacci level ($0.00003447).

Derivatives Data:

- Mixed sentiment (surging trading volumes, declining open interest).
- Long/short ratio: 0.95 (short positions > long positions).
- Long liquidations: $293,000 (24 hours).

Outlook:

- Continued bullish momentum.
- Potential breakout beyond 1.618 Fibonacci level.

BONK's strengthening bullish momentum and technical indicators suggest potential further gains, but mixed derivatives data and caution from futures traders warrant monitoring.

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