Bonk Racks reaches $ 33 million in purchases – but this may kill the duct! star-news.press/wp

Main meals

More than $ 33 million from Bonk from the market has been obtained by investors and varied, adding pressure to maintain the continuous assembly.

Bonk (Bonk) maintained its upscale momentum, climbing 38 % during the past week and it seems that it is preparing to continue the same track.

The analysis shows an increasing accumulation during this period. However, the broader market continues to influence the Bonk price – even as this is approaching the potential collapse.

Investors continue to accumulate

Last week, Bonk investors intensified their accumulation, reaching $ 33.22 million during this stage.

Participants in the immediate market led these fees, buying $ 31.44 million from Bonk, according to Coinglass’ Spot Exchange Netflow Data.

Source: Coinglass

These symbols were transferred to private governors, indicating long -term investment expectations, a move historically preceded the market gatherings.

Investors contributed to smart money 1.78 million dollars. Although this is relatively small, it was the largest Smart funds flow to any Mimxen in the ecosystem of Solana during the past week, Nansen said.

Source: Nansen

Historically, smart money holders of Bonk are famous for profitable bets, indicating that this capitalist flow may reflect the incoming gathering expectations.

Derivatives indicate the bullish feelings

Defeated merchants also enter the race. At the time of writing this report, the weighted financing rate was the open interest over the positive threshold.

This positive reading indicates that most active derivative contracts are long sites. With a financing rate of 0.0114 %, this means that long traders pay a premium to maintain their locations.

Source: Coinglass

Ambcrypto analysis shows that Bonk has separated from the bullish chart style, with a bullish goal of $ 0.00003900.

However, two main levels of resistance remain: 0.00003461 dollars, which already rejected the price once, and 0.00003680 USD.

Source: TradingView

Looking at the current pace of accumulation, Bonk appears to be in a good position to challenge these levels and possibly extend their gathering.

However, the biggest obstacle to continuous upward collapse is still distribution at the market level.

The distribution stage continues

The accumulation/distribution percentage (A/D) provides a contradictory image of Bonk horizons. Despite the aggressive purchase of both Spot and Smart Monior, the total market is still in the distribution phase.

During the past 24 hours alone, the total distribution volume reached 31.88 trillion bonk, indicating that there are more symbols that are sold from the purchase.

Source: TradingView

At the time of the press, the A/D scale was written slightly up, indicating that the distribution may slow down. If this trend continues, Bonk may regain its long -term bullish path.

However, if the distribution resumes its declining direction, this may reduce the bullish trend of Bonk, even if it comes out of the formation of the current upper scheme.