Bonk Price Prediction: Solana Meme Coin BONK Soars 96% In A Week, Hits New ATH

The BONK price earlier hit a new all-time high (ATH) of $0.00005627 before paring gains.

Bonk Price Indicators Hint At A Sustained Bullish Rally
The Bonk price has been on a consolidated phase from late September to the beginning of November, as the bulls and bears struggled for dominance within the $0.000020 range, according to data from GeckoTerminal.

BONK has now crossed above both the 50-day and 200-day Simple Moving Averages (SMAs), a confirmation of the prolonged rally. Moreover, the 50-day SMA has crossed above the 200-day SMA, forming a golden cross around $0.00002211, further cementing the bullish stance.

The Relative Strength Index (RSI) is at 62.31, which is near the overbought zone (typically 70+). While it’s not extremely overbought yet, the recent rally suggests caution. If RSI moves above 70, it could indicate a potential reversal or consolidation as the price might be overextended. Current RSI levels suggest there may still be some room for upward movement, but traders should monitor for signs of weakening momentum.

The MACD is in a bullish phase, with the MACD line (blue) above the signal line (orange) and both above the baseline (zero level).

The widening gap between the lines indicates strong bullish momentum. However, such sharp moves can often lead to exhaustion, so watch for any signs of convergence (lines coming closer together) as a signal of waning momentum.

BONKUSD Chart Analysis Source: GeckoTerminal

 

According to the BONK/USD chart analysis on the 4-hour timeframe, the Bonk price could still soar, as the bulls capitalize on the major indicators. If this trend continues, the price of Bonk could soar, as the bulls target $0.0001. Analysts also believe that the Solana meme coin could soar.

However, if the bears push the price of Bonk towards a pullback, the 50-day and 200-day SMA could act as the next possible support levels at $0.00003679 and $0.00002539 respectively.