The market has seen a mean reversion, with certain altcoins showing stronger performance than others. $BONK has successfully held its main support level between 1,800 and 2,000 on the daily chart. On the 12-hour chart, BONK experienced a brief fake-out but quickly regained its support level, signaling a bullish trend. The 4-hour chart also shows Bonk breaking above this support, which is very bullish. The key resistance level to watch for a potential bull run is between 28,200 and 28,700. Fundamentals for Bitcoin and the broader crypto market have shown slight improvement, and the Solana ecosystem is thriving, with projects like GITO, JUP, and BONK performing relatively well. In the short term, I'm bullish on Bonk, expecting it to maintain its support level. While a pullback is possible, I don't foresee a significant fake-out, and I expect Bonk to gradually climb to 2,500. However, I don't anticipate a massive rally soon, but if fundamentals improve significantly, it could speed up the rally.
