๐ $BONK /USDT 4H Chart Analysis - May 5, 2025 ๐
๐ BONK/USDT is showing some interesting moves on the 4-hour chart, currently trading at $0.00001730 (+2.13% in 24H).
๐น Price Action: After a massive rally to $0.00002200 around April 25, BONK faced a sharp 20%+ correction, dropping to a 24H low of $0.00001572. Itโs now attempting a recovery, with a small green candle forming signs of buyers stepping in?
๐ Volume: The rally saw a huge volume spike, but the decline came with lower volume, hinting at profit-taking rather than a strong bearish shift. Current 24H volume is 1.69T BONK (27.88M USDT)โmoderate activity, but weโd need more volume for a confirmed uptrend.
๐ Technical View:
SMA: Price is testing the SMA after dipping below it. A break above could signal a short-term bullish reversal.
Support/Resistance: Support at $0.00001572, resistance at $0.00001800 and $0.00002000.
Candles: The peak had a long upper wick (rejection), but the latest green candle offers hope for bulls.
๐ Sentiment: Meme coins like BONK are volatile, driven by hype. Despite a 7-day drop (-12.41%), itโs still up 54.19% over 30 days. Longer-term, itโs consolidating (-9.57% in 90 days).
๐ฎ Whatโs Next?
Bullish: Break above $0.00001800 with volume could target $0.00002000.
Bearish: A drop below $0.00001600 may retest $0.00001572 or lower.
