✅Eventhough $BONK has shown major bullish movements 4 days back, the price has got rejected from the SNR line above.
✅Then for the past several days, the price has been constantly below this SNR level.
✅Yesterday also we can see the cahrt has formed an 'inverted hammer' candle suggesting rejection to higher prices.
✅So, we can clearly see that sellers are dominant near the SNR line and buyers does not have enough buying pwer to overwhelm the sellers.
✅There is also reducting volume suggesting that there is lackk of interest in the makret at current price level.
✅So, there is a opportunity that the price will fall down to the SNR line below or even further down.
✅Because if there is less buying, and sellers are dominant above, the least resistant way for the price is to go down.
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😇😇Tip if this information is useful in your trading..helps me a lot.
