STH Realized Profit has recently surged to nearly +3 standard deviations above its 90-day average, showing notable profit realization. However, historical data from previous cycles shows this metric typically reaches +5 standard deviations or higher during ATH rallies, suggesting much stronger profit-taking pressure is usually needed to overwhelm demand inflows.
Price has broken out of the downtrend channel and has retested the line multiple times. A break below $2.30 would be bearish, so it is advisable to use a stop loss for long positions.
The market is showing choppy movement, and the price signals are mixed due to low volume. We can expect similar movement today, but high volatility may occur next week. It is advisable not to engage in high-leverage trading and to use stop-loss orders for all positions.
BONK is gradually approaching the support area. Let's see how the price reacts there. A break below this support area would be bearish and indicate a continuation of the downward movement. Use a tight stop loss when opening long positions.