BONK Price Analysis: Key Support Levels to Watch

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The meme coin BONK (BONK/USDT) has recently come under selling pressure, losing momentum after rallying up to 0.000028. 

BONK Chart (Source Coingecko)

At the time of writing, BONK is trading near 0.000019, which is below the EMA50 (4H), signaling short-term weakness in the trend.

Technical Indicators

  • Support Test: BONK is currently testing a critical support zone at 0.000018. This level has previously acted as a strong demand area, making it crucial for BONK’s next move.
  • RSI (Relative Strength Index): The RSI is leaning negative, suggesting bearish momentum is still in play.
  • MACD (4H): The MACD is also forming a bearish signal, further confirming downside pressure.

Key Levels to Watch

  • Downside Scenario: A decisive break below 0.000018 could open the door for further declines, with the next major support sitting around 0.000013.
  • Upside Scenario: If 0.000018 holds strong as support, BONK may find relief and potentially stage a recovery rally in the coming days.

Conclusion

The 0.000018 level is the critical battleground for BONK right now. Traders should watch this zone closely as it will likely determine whether BONK experiences a deeper correction or begins a recovery phase.

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