$BONK
Based on the current chart, the likelihood of BONK dropping another 1 zero (down to the range of 0.00000xxxx) is quite high, with the following reasons:
1. Technical signals:
- The price is dropping sharply (-6.60%), having broken through many support levels
- RSI is very low (RSI6: 34.06) indicating a strong downward trend
- The MA lines have crossed down and show a clear downward trend
- Volume is gradually decreasing, indicating weak demand
2. High likelihood of decline because:
- There are no strong support levels nearby
- Selling pressure is very high
- Market sentiment is negative
- The downward trend of the entire meme coin market
3. Price levels to pay attention to:
- Nearest support level: 0.00004631 (low 24h)
- If broken, it is highly likely to test the level of 0.00004000
- The next target for further decline could be 0.00003561
Recommendations:
1. If holding:
- Should consider cutting losses to preserve capital
- Should not average down at this time
2. If shorting:
- Can hold the short position
- Set take profit partially at support levels
- Manage risks tightly as there may be a technical rebound
3. If standing aside:
- Should not buy in at this time
- Wait for clear reversal signals with large volume
Note: This is a meme token with very high volatility, investors need to be extremely cautious and only trade with capital that can accept the risk of losing everything.