BONK Price Prediction: Sideways Ahead as the Market is Bullish but Investors are Bearish

BONK price has noted a substantial decline over the past couple of weeks, bringing the altcoin down to a two-month low.

BONK price has observed a significant decline over the past couple of weeks, bringing the altcoin down to a two-month low. Now, as the meme coin attempts to recover from the bearish spell, mixed signals from the broader market cues and investors’ skepticism highlight a different path.

BONK price could be noting sideways momentum in the coming weeks because the market is bullish but investors are bearish. The Moving Average Convergence Divergence (MACD) recently experienced a bullish crossover. This is the first such occurrence since the beginning of June.

This technical indicator suggests a potential shift in momentum, which could signal an upcoming upward trend for the cryptocurrency. However, despite the bullish MACD signal, BONK’s funding rate continues to dwindle. The shift between negative and positive rates indicates that investors remain uncertain about the coin’s future direction, which shows a lack of confidence in sustained positive performance.

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