Although the bullish advances in the cryptocurrency sector are still happening, Bonk (BONK) has somewhat slowed down its gains after reaching a new all-time high (ATH) in early March, and machine learning and artificial intelligence (AI) algorithms predict that modest increases will continue.
Indeed, Bonk could proceed with slight increases during the rest of the month, possibly hitting $0.000034 by March 31, 2024, according to the forecast by the advanced price projection algorithm over at the crypto analytics platform PricePredictions obtained on March 11.
Bonk 30-day price forecast. Source: PricePredictions
Taking into account the dog-themed token’s current price, as well as indicators like the moving average convergence divergence (MACD), Bollinger Bands (BB), average true range (ATR), and others, this means that the algorithm sees Bonk growing its price by 8.04% until that time.
Bonk 7-day price chart. Source: CoinMarketCap
It is also worth noting that the sentiment toward BONK on its 1-week technical analysis (TA) gauges is exceptionally optimistic, rating it as a ‘strong buy’ based on oscillators in the ‘strong buy’ zone at 1 and moving averages (MA) also pointing at a ‘strong buy’ at 3.
BONK 1-week sentiment gauges. Source: TradingView
Elsewhere, the previous price pump for Bonk coincided with the wider positive sentiment in the crypto market and with major crypto exchange Robinhood Crypto, a subsidiary of the financial services company Robinhood, listing it for select European Union (EU) jurisdictions.
$BONK is now live for trading on Robinhood Crypto in select EU jurisdictions!Buy, sell and trade 24/7 on the app and earn a percentage of your trade back in BTC (terms apply).See the full list of assets available here:https://t.co/FodrZLRXPA pic.twitter.com/Ooc0FnOdz2
— Robinhood Crypto EU (@RobinhoodCrypto) March 5, 2024All things considered, especially when looking at its TA indicators, Bonk might continue in the direction predicted by the advanced machine algorithm. However, things in this sector could change on a whim, so doing one’s own research before investing a larger sum of money is crucial.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
