$BONK is currently trading at approximately $0.00001858 USD, reflecting a decline of about 6.73% in the last 24 hours. The price has been fluctuating between $0.00001820 and $0.00002072, indicating a period of consolidation.
Technical indicators present a mixed outlook. The Relative Strength Index (RSI) is hovering around 71.63, suggesting that BONK is in overbought territory, which could indicate a potential price correction. The Commodity Channel Index (CCI) is at 91.48, indicating that the asset is in an overbought condition.
For those considering a long trade, a confirmed breakout above the $0.00002072 resistance level with increased volume could signal a bullish trend continuation. Conversely, a drop below the $0.00001820 support level might present a short trade opportunity, targeting lower support zones.
Beginner traders should exercise caution during such consolidation phases. It's essential to wait for clear signals before entering a trade and always employ proper risk management strategies, such as setting stop-loss orders to mitigate potential losses.
Buy and Trade $BONK