$BONK BONK BOUNCES
Bonk's price bounced back from the Golden Pocket (0.618 Fibonacci level, which is a key support region), so it is still seeing price action to the upside (higher highs and higher lows) that many traders consider a safe zone for buyers to step in. ๐
Currently, Bonk is trading around $0.000023 after a low near $0.0000208 and a high around $0.0000234. Buying volume is starting to climb and there is some increasing interest in Bonk; funding rates and open interest are still weak which indicates there is some uncertainty. If Bonk can break above its nearby resistance we can see more upside ahead.
So is a trend reversal possible? Yes. If strong buying continues Bonk could push towards the price range of $0.000027 - $0.000039. However, if it is unable to stay clear of the Golden Pocket, there is a possibility the price may drop again. At the current moment, the bounce support looks promising. ๐
