Can $BONK clear this roadblock?
After BONK’s downtrend in Q2, the memecoin has struggled to clear its key long-term trendline support. The attempted recovery in July and August was reversed at the resistance. At press time, September’s relief rally re-encountered the roadblock at $0.000018.
BONK’s recovery uncertainty was further confirmed by the overbought conditions flashed by the stochastic RSI (Relative Strength Index) and neutral reading from the RSI. If BTC remains below $60k, the roadblock could trigger another BONK price rejection.
If so, a price rejection at the obstacle could drag the price to $0.000015 support (marked cyan).
However, BONK could see potential gains of 16% if it breaks above the trendline resistance and surges to the supply zone above $0.000020.
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