BONK Finds Stability At $0.00004002, Can Bulls Spark A Comeback?
Recent trading activity suggests that BONK remains stable at the key support level at $0.00004002. The stabilization comes after a period of downward pressure, fueling speculation of an imminent rebound. and bull Showing signs of resilience, the stage is set for a comeback that could redefine BONK’s near-term trajectory. Will this level serve as a springboard for recovery, or will further consolidation be needed before taking the next step?
Support holds steady: signs of bullish rebound
As market sentiment oscillates between caution and optimism, establishing that the meme coin holds near-term support at $0.00004002 will be crucial for investors and traders to re-evaluate their positions ahead of potential volatility.
Related reading: Analysts say BONK shares rise 20% as ‘dog season’ begins
On the 4-hour chart, BONK is showing a steady upward trajectory although it is trading below the 100-day simple moving average (SMA). After a strong rebound from the key support level of $0.00004002, the asset is making strides to extend its incometargeting the $0.00006247 resistance zone. A successful break above the 100-day moving average could further validate its recovery and potentially open the door to higher levels.
Additionally, the formation of the 4-hour relative strength index (RSI) points to renewed buying pressure and a shift in market sentiment to become more bullish. When the RSI rises and reaches 50%, it can confirm its upward move, giving BONK the strength to push higher and test key resistance levels.
BONK Performance on Daily Timeframe
Bunker There are signs of potential upside on the daily chart, with the pair holding above the 100-day moving average after bouncing off support at $0.00004002. Its sustaining above this support sets the stage for further growth. If BONK can sustain its position above this level and continue to build momentum, it could pave the way for a breakout and more upward moves.
In addition, the daily RSI showed signs of rebound and remained stable above 50%. A sustained trend above this level means the asset is well-positioned for further gains, with the potential for a sustained rally. If the RSI continues to climb, it could indicate growing confidence traders And indicates the positive price movement of the meme coin.
As of now, BONK is at a critical juncture, having settled above the $0.00004002 support and the daily 100-day moving average. If Bonk can maintain its position above this support and build on its current momentumone potential A recovery may be underway, which could push the price towards the $0.00006247 resistance and even higher. Nonetheless, failure to sustain $0.00004002 could change the meme coin’s downside direction, causing it to retest lower support areas such as $0.00002962 and $0.00002320.
