$BONK
BONK Technical Analysis – Bearish Setup
Current Price: $0.00001703
24H Volume: $38.8M (moderately strong but showing signs of distribution)
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Price Action
BONK is showing signs of price exhaustion after a parabolic move.
Price is consolidating just below the $0.00001750–$0.00001800 resistance zone, struggling to reclaim upward momentum.
A lower high is forming compared to the last local peak near $0.00001820, suggesting selling pressure is building.
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Technical Indicators
RSI (1D): Dropping from overbought, currently around 54, showing weakening bullish strength.
MACD (4H): Bearish crossover active with increasing negative histogram bars.
Bollinger Bands (4H): Price hugging the upper band, now pulling back inside — early sign of mean reversion beginning.
Volume: Price is rising/slightly holding, but volume is flat to declining — a common signal of bull trap potential.
Short Trade Setup
Entry Zone: $0.00001700–$0.00001720 (ideal entry on rejection wicks)
Confirmation: Break below $0.00001650 with volume spike
Stop Loss: Above $0.00001750
Target 1: $0.00001550
Target 2: $0.00001420
Risk/Reward: Up to 1:3 if timed on confirmation
