Memecoin Bonk Inu (BONN) has once again captured the attention of investors, with BONC **up another 20% in the last 24 hours and currently trading at 000001572 USD.
Bonk is under significant downward pressure, breaking above 50 on the 4-hour chart and quickly. This kind of ** affects the market value and signals a potential death crossover in the 4-hour chart.
Bonk Inu's **from December 14 to 28 was a substantial** 64%, similar to the correction typically associated with bear markets that last for several years. This usually happens after BONk was listed on some popular exchanges last week. Given the inherent volatility of meme coins, there are signs that Bonk is approaching a potential reversal.
Sellers increase their efforts to push ** down to 0000015 below the $10 psychological level, test the 200 EMA and signal a potential death cross. Despite this week's substantial**, the recent bullish trend has brought optimism to Bonn**, suggesting that the trend is likely to continue in the coming weeks amid positive market sentiment and a growing community.
Currently, buyers are making a comeback, finding support at the 4 EMA at 200 on the 200-hour timeframe and reappearing at 0000015 above the psychological threshold of the US dollar. However, recovery efforts have faced challenges as buyers have abandoned 61The 80% Fibonacci level, which turns the previous support level into a resistance level, could hinder recovery attempts.
The decisive shift in the dynamics of the bonk ** will pass through 0The 0000174 dollar barrier signals a decisive shift towards support, confirming the presence of bullish forces seeking a reversal. In this case, Bonk Inu could quickly rise to 31% to the subsequent key resistance level of 00000228 USD.
with the current 0This potential uptrend could result in a massive gain of 55% for bonk holders compared to the trading value of 0000152 dollar. For investors looking for a more cautious approach, the confirmation will be 0The transformation of the level of 0000174 dollar into support may provide a suitable entry point with a 31% potential.
Despite the positive outlook, at 0There are inherent risks associated with entering a trade 0000174 before a successful transition to the key level of the US dollar. Strong resistance at this level may lead to a correction and continuation of the existing downtrend.
However, if Bonk Inu's ** breaks through 00000129 the support level of the US dollar and turn it into a resistance level, establishing a lower low, and the bullish scenario will be invalidated. In this case, BONK could **28% with the target follow-up support level of 000000925 dollars.
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