BONK, a meme cryptocurrency, has experienced a 7.37% rally, pushing its value to $0.00001851. This surge follows a period of downturns, but OKX traders are driving a bullish sentiment, with a Long/Short Ratio exceeding 1. Technical indicators suggest a potential rebound, although bearish signals remain present.
OKX traders were going long on BONK as they opened buy contracts, a sentiment common across the market.
This rally comes after a series of market downturns, with a 28.79% loss in the past week and 46.55% in the last month. The Long/Short Ratio, a metric assessing long contracts versus short contracts , has crossed above 1. When this ratio is above 1, it suggests there are more buyers than sellers in the market.
The Open Interest Weighted Funding Rate, combining Funding Rate and Open Interest, has turned positive at 0.0051% after a prolonged bearish period.Source: CoinglassA bullish formation surfaces
BONK Cryptocurrency OKX Long/Short Ratio Bullish Sentiment Technical Analysis
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pepeto: The Frog Memecoin Poised for a BONK-Like RallyPepeto, a new memecoin inspired by frog meme culture, is generating buzz with its potential for explosive growth. Early investors can buy into its presale at a low price, with comparisons being drawn to the successful BONK memecoin rally. Pepeto's community-driven approach and the enduring popularity of frog memes position it for a significant surge once it launches to the public.
Read more »
With XRP’s price rally now at risk, is it time for traders to get out?XRP's rally faces turbulence as risk metrics hit extreme levels. With that being said, is now the time to secure profits if you're a holder?
Read more »
Why POPCAT traders can hope for a 50% rally after latest breakoutPOPCAT's latest breakout from its prolonged consolidation phase has sparked a shift in market sentiment, with the potential for a...
Read more »
‘Traders positioning themselves for outsized altcoin rally’According to analysts an 'outside altcoin rally' could be likely, citing Bitcoin dominance and surge in stablecoin inflows...
Read more »
25% price rally may be on for AVAX, but what do traders, investors have to say?AVAX’s strong technical setup and growing interest from traders and investors point to the potential for a 25% rally...
Read more »
Fartcoin’s 46% rally stuns traders in a bearish marketFARTCOIN surged 46% amid a market crash. Explore the memecoin's rise, trading dynamics, and future potential.
Read more »