BONK Price Faces a Correction Or A Potential for Reversal?
Current State: BONK price is undergoing a significant pullback, hinting at a deeper correction phase. Struggling below $0.000015, it reflects a weakening bullish grip.
Key Support Levels: Despite the downturn, BONK finds support at the 200 EMA in the 4-hour chart, suggesting a potential rebound.
Death Cross Concerns: The rapid decline has raised concerns of a looming death cross in the 4-hour chart as the 50 EMA declines.
Recent Performance: BONK experienced a sharp drop this week, undercutting the $0.000015 level and retesting the 200 EMA.
Potential for Recovery: Despite the recent fall, the historical bull run and overall market optimism fuel hopes for BONK's recovery.
Technical Scenario: Currently, BONK shows signs of a fightback, rebounding above $0.000015. However, the loss of the 61.80% Fibonacci level turns it into a resistance challenge.
Intraday Dynamics: Trading at $0.0000155 with a 4.84% intraday increase, BONK shows potential for a strong reversal, indicated by a morning star pattern in the daily chart.
Future Prospects: If BONK sustains above $0.000015, it could retest previous highs. Fibonacci retracement levels in the 4-hour timeframe highlight key resistance zones.
Technical Indicators:
MACD: A positive crossover in the daily chart supports a bullish reversal.
Fibonacci Levels: Highlight crucial resistance zones for BONK.
Outlook: If BONK maintains above the critical $0.000015 level, it might aim for $0.000035, especially with the New Year rally approaching.
Downside Risks: However, the threat of a death cross in the 4-hour chart could intensify the downside risk, possibly pushing BONK towards $0.000010.
Key Support Levels: Despite the downturn, BONK finds support at the 200 EMA in the 4-hour chart, suggesting a potential rebound.
Death Cross Concerns: The rapid decline has raised concerns of a looming death cross in the 4-hour chart as the 50 EMA declines.
Recent Performance: BONK experienced a sharp drop this week, undercutting the $0.000015 level and retesting the 200 EMA.
Potential for Recovery: Despite the recent fall, the historical bull run and overall market optimism fuel hopes for BONK's recovery.
Technical Scenario: Currently, BONK shows signs of a fightback, rebounding above $0.000015. However, the loss of the 61.80% Fibonacci level turns it into a resistance challenge.
Intraday Dynamics: Trading at $0.0000155 with a 4.84% intraday increase, BONK shows potential for a strong reversal, indicated by a morning star pattern in the daily chart.
Future Prospects: If BONK sustains above $0.000015, it could retest previous highs. Fibonacci retracement levels in the 4-hour timeframe highlight key resistance zones.
Technical Indicators:
MACD: A positive crossover in the daily chart supports a bullish reversal.
Fibonacci Levels: Highlight crucial resistance zones for BONK.
Outlook: If BONK maintains above the critical $0.000015 level, it might aim for $0.000035, especially with the New Year rally approaching.
Downside Risks: However, the threat of a death cross in the 4-hour chart could intensify the downside risk, possibly pushing BONK towards $0.000010.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.