BONK Price Drops Amid Negative Market Sentiment and Declining Trading Activity

  • 📰 CryptoAmb
  • ⏱ Reading Time:
  • 51 sec. here
  • 9 min. at publisher
  • 📊 Quality Score:
  • News: 48%
  • Publisher: 68%

Cryptocurrency Nachrichten

BONK,Memecoin,Cryptocurrency

BONK, a memecoin, experienced a significant price drop of 17.70% in the last 24 hours, trading at $0.00002082. This decline was accompanied by reduced trading activity and market capitalization. AMBCrypto's analysis indicates that negative market sentiment and declining buying pressure are contributing to BONK's downward trend.

The memecoin’s fundamentals suggested a further decline below $0.0000200 before another uptrend.However, the last 24 hours have seen a significant market correction. In fact, at press time, BONK was trading at $0.00002082.

This price movement indicated buyers were not strong enough to push the prices above this level, as sellers were defending it.As such, AMBCrypto’s look at Market Prophit suggested that the current crowd sentiment was negative at press time. The question is, could this pullback see BONK drop below $0.00002000 or the retrace is a mere correction before a strong upswing?AMBcrypto’s analysis showed that the press time market conditions could set BONK for further declines before attempting another uptrend.For example, BONK’s Relative Strength Index declined over the past five days from a high of 74 to 51 at press time.

This decline suggested that investors were closing their positions while there were no new investors entering the market. This indicated investors’ lack of confidence in the current direction.This phenomenon is further supported by a sustained decline in Futures open interest over the past 5 days. BONK’s Futures Open Interest has declined from $13.59 million to $10.91 million.

Wir haben diese Nachrichten zusammengefasst, damit Sie sie schnell lesen können. Wenn Sie sich für die Nachrichten interessieren, können Sie den vollständigen Text hier lesen. Weiterlesen:

 /  🏆 22. in DE
 

Vielen Dank für Ihren Kommentar.Ihr Kommentar wird nach Prüfung veröffentlicht.

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Price drops and rising sales define Toronto’s housing market in SeptemberLower interest rates creating more favourable conditions for buyers reentering the market, TREBB says
Herkunft: YahooFinanceCA - 🏆 47. / 63 Weiterlesen »