BONK eyes ‘golden cross’ after 14 days of slump – What’s next for the price?
The post BONK eyes ‘golden cross’ after 14 days of slump – What’s next for the price? appeared on BitcoinEthereumNews.com.
BONK is showing signs of a bullish takeover, as technical indicators and on-chain sentiment suggest a shift from its previous bearish trajectory. Traders on OKX are likely to lead this potential rally, as they dominate key market metrics. Following a 21% decline over the past month, Bonk [BONK] is attempting to erase those losses, recording a 10% gain in the past 24 hours. Market analysis indicates that the asset could continue posting gains, with several metrics now leaning in favor of the bulls. AMBCrypto analyzed how the situation may unfold. Bulls reclaim market control after 14-day slump Market data shows that bulls have reclaimed dominance after losing control for 14 consecutive days. The Bull Bear Power (BBP) indicator confirms this shift, identifying which side currently holds market control. Source: TradingView A green, upward-facing histogram suggests that buyers now outnumber sellers in the market. The Moving Average Convergence Divergence (MACD) further supports the bullish case. BONK appears close to forming a Golden Cross—a bullish signal that occurs when the blue MACD line crosses above the orange signal line. If the MACD enters positive territory, the rally may gain even more momentum. Though these are technical indicators on the daily chart, AMBCrypto found additional signs pointing to a potential BONK surge. OKX traders drive derivatives surge for BONK The derivatives market is also flashing bullish signals, particularly in terms of trading volume, which now tilts toward buyers. Current data shows the Derivative Trading Volume ratio at 1.03—indicating more aggressive buying activity. AMBCrypto’s analysis reveals that traders on OKX are driving this trend. The platform records a volume ratio of 1.27 in favor of buyers, highlighting increased bullish activity. Source: CoinGlass BONK now ranks second in both Open Interest (OI) and Trading Volume (TV) among listed assets, with figures at $5.54 million and…
Filed under: News - @ June 10, 2025 11:28 pm