Technical Analysis of Bonk (BONK) Today - August 12: Recommendations at the End of the Article 🔥
Current Price: Approximately $0.00002433.
General Trend: The currency is in a correction phase within a Descending Channel after the peak in November 2024 at $0.000059.
Technical Indicators:
RSI (14): Approximately 30.97-53.04 (Neutral), indicating no excessive momentum in buying or selling.
MACD: Neutral, with a potential crossover of the lines indicating the beginning of slight upward momentum.
Moving Averages:
EMA (50) and EMA (100) at $0.0000254 and $0.0000224 (Buy Signal).
MA (5) and MA (10) at $0.00002648 and $0.00002654 (Buy Signal), but MA (200) at $0.00002843 (Sell Signal).
Williams %R: -48.965 (Neutral), reflecting temporary stability.
Support and Resistance Levels:
Support: $0.00001039-$0.00000900 (Strong Historical Support Area).
Resistance: $0.00003780-$0.00004000 (Major Testing Area).
Short-term Forecast:
If the price breaks $0.00003790, it may indicate a potential upward reversal towards $0.00004500.
In case of failure to maintain support at $0.00001039, the price may retreat to $0.00000900 or lower.
Notes:
The market structure shows early bullish signs with a recent rebound of 10-15%, but momentum needs confirmation with higher trading volume.
The currency is sensitive to general market fluctuations, so monitoring resistance levels and volume is advised.
Recommendation: Watch the level of $0.00003780 to confirm the breakout or $0.00001039 to avoid further declines.