$BONK is currently experiencing a downtrend, with a price decrease of 4.401% in the last 24 hours.
The 24-hour trading range shows a high of 0.00001411 and a low of 0.00001295, indicating heightened volatility.
Bollinger Bands suggest that price action is consolidating, as it's nearing the lower band at 0.00001278.
With support at 0.00001295 and resistance at 0.00001389, traders may be cautious.
Macroeconomic factors, including inflation trends and regulatory news, could further weigh on the market, but Bitcoin’s undefined influence means BONK's movement may be independent.
Given the current volatility and downtrend, a short-term trading strategy may be more effective.
Key takeaway: Monitor macroeconomic news closely, as it can shape BONK's immediate price outlook.
