Analysis of currency $BONK hourly frame/
1. Short-term general trend:
Current price: 0.00001203
Nearest support: 0.00001136 (previous low)
Nearest resistance: 0.00001238 (highest price in 24 hours)
2. Technical indicators♥:
Moving averages:
EMA 7 (yellow): 0.00001196
EMA 25 (pink): 0.00001193
EMA 99 (blue): 0.00001208
The price is currently moving above the short-term averages and approaching EMA99, indicating a potential breakout of resistance if momentum is maintained.
RSI (6): around 58.7
This indicates that the momentum is bullish but has not yet entered the overbought territory (70), allowing room for a rise.
OBV: very low, indicating that the outflow of liquidity is still strong but has started to slow down.
3. Quick technical analysis♥:
We notice an attempt to break the 99 average, and if the price manages to hold above it, we may see an upward movement.
Potential targets:
First target: 0.00001238 (current resistance, partial profit taking)
Second target: 0.00001280 (previous resistance on the candle)
Third target: 0.00001360 - 0.00001410 (previous peak if the upward momentum continues)
Stop loss♥♥:
Breaking support at 0.00001136 with a clear candle and large trading volume is considered an exit signal.
Recommendation♥♥:
Enter cautiously if EMA99 is broken and holds above 0.00001210.
Monitor liquidity and RSI; if RSI exceeds level 65 with rising trading volume, the buying opportunity is stronger.
