BONK, a memecoin, is exhibiting a bullish trend on higher timeframes. Despite this positive outlook, the trading has slowed and is currently moving within a defined range between $0.0000198 and $0.0000241.
The key resistance level in this range stands at $0.0000241, and traders are eyeing a potential price target of $0.0000339 if this resistance level is breached.
Concerningly, the On-Balance Volume (OBV) shows a downward trend, which could indicate a decrease in buying pressure or interest in the current trading environment.
However, the positive funding rate indicates that there is still a prevailing bullish sentiment among investors as of September 29, suggesting optimism for BONK's upward trajectory.
