🚀 BONK Breakout Brewing? Neckline Support in Play 🔥
After a 35% drop from July’s high, $BONK is now flirting with a key support level — and traders are watching closely.
📉 Recent Action:
• Current price: $0.00002606 (down from $0.00004070 in July)
• Retesting the Cup & Handle neckline support at $0.00002500
• Bitcoin hit a new ATH at $124,474 earlier before easing — adding market jitters
📊 Market Sentiment:
• Open Interest down from $73M (July peak) to $38M — signaling cooling hype
• Futures sentiment still positive at 0.0101% → traders leaning long
• Price holding above 50 EMA ($0.00002563) and well above 100 EMA ($0.00002306) & 200 EMA ($0.00002174)
🔍 What’s Next?
• Hold the neckline → Possible bullish push back to July’s high: $0.00004074
• Lose the neckline → Risk of deeper correction toward EMA supports
$BONK is at a crossroads — will the meme army step in? 🐶🔥
#Bonk #BNBBreaksATH #Solana #BTCBreaksATH #CPIWatch $SOL $BONK