CandleFocus

BONK Finds Stability At $0.00004002, Can Bulls Spark A Comeback?

Author: Content Editor
The recent trading activity for the meme coin BONK indicates that it is maintaining stability at the critical $0.00004002 support level. This stabilization comes after a period of downward pressure, raising speculations of a potential rebound. Bulls are showing signs of resilience, setting the stage for a comeback that could redefine BONK’s near-term trajectory. The 4-hour chart shows a steady upward trajectory, with BONK aiming to breach the $0.00006247 resistance zone. The 4-hour Relative Strength Index (RSI) also reveals a resurgence in buying pressure, indicating a more bullish market sentiment. On the daily chart, BONK is staying above the 100-day SMA after a rebound at the $0.00004002 support level, providing a foundation for further growth. The daily RSI is also showing signs of a rebound, maintaining a steady position above the 50% threshold. If BONK can sustain its position above the support level and build on its current momentum, a potential recovery could be underway. However, failure to maintain the support level may cause the meme coin's direction to shift downwards.

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