BONKUSDT SPOTLong
The Next 3 Days Will Be Crucial for BONK as It Rises 2%
BONKUSDT was rejected by a negative medium-term trend line in the past 24 hours. Despite this, the meme coin remains in a historic buy zone between $0.000008855 and $0.0000128480, which leaves open the possibility for BONK to surge to the upside soon. Traders and investors will want to keep an eye on the $0.000008855 support level in the next couple of days. Should the Bonk price drop below this crucial mark, it will be at risk of plummeting to the $0.0000031115 support in the short term. On the other hand, a rebound from this level could finally lead to the strong move towards the upside that is being forecasted on BONK’s charts. Before this can happen, however, BONK may undergo a slight correction before the move. Its current setup is similar to the setup leading up to its last bullish move. Using the prior setup as reference shows that the meme coin’s price could drop one more time before potentially pumping.
If history repeats, BONK could launch to as high as $0.0000192765 in the following few days. Continued buy pressure could then boost it above this barrier, which will clear a path for it to rise to $0.0000290295.
Buyer Strength Dips as Sellers Take Over
Traders and investors will want to keep an eye on the Relative Strength Index (RSI) line as it looks to cross below its Simple Moving Average (SMA) line. This may trigger a significant bearish technical flag and signal that sellers have gained the upper hand on BONK’s 4-hour chart. Although this will be a bearish development, it does not rule out the possibility of the bullish move completely, as the same happened in the previous surge. A potential confirmation of the positive move not happening will be when the Moving Average Convergence Divergence (MACD) line crosses below the MACD Signal line.
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