BONK Short-term Trend! Surge or Pullback? Price Direction Prediction and Trading Strategy

The current price of BONK is $0.00004434, showing a certain upward trend in the past 24 hours. The current price is close to the short-term support level of $0.00004350; if this support holds, the price may continue to rise, challenging the recent high of $0.00004550. Overall market sentiment is optimistic, with trading volume steadily increasing, indicating that bulls are still dominating the market. Technical indicators show that BONK's Relative Strength Index (RSI) is close to 60, indicating that there is some upward momentum in the market, but it is not yet overheating, possessing potential for short-term continuation upward.

However, the price has been repeatedly blocked near $0.00004500, forming strong selling pressure. Breaking through this level will be key for further upward movement.

Long Position Strategy:

Target Price: $0.00004550 - $0.00004700

Stop Loss: $0.00004300

If BONK's price breaks through $0.00004500 and stabilizes above this range, a long position can be considered. The target can be set in the range of $0.00004550 to $0.00004700. After the breakout, the price is expected to experience a strong rise and challenge previous highs.

Strategy Explanation:

Entry Point: Enter a long position when the price breaks above $0.00004500 and maintains stability above this level. Stop Loss Setting: If the price drops below the support level of $0.00004300, then stop loss. Target Price: $0.00004550 to $0.00004700.

Short Position Strategy:

Target Price: $0.00004300 - $0.00004150

Stop Loss: $0.00004600

If BONK fails to break through $0.00004500 and experiences a pullback, a short position can be considered. There is currently some selling pressure in the market; if the price drops below $0.00004350, it may seek support at $0.00004300.

Strategy Explanation:

Entry Point: Enter a short position when the price fails to break $0.00004500 and breaks down below $0.00004350. Stop Loss Setting: If the price breaks above $0.00004600, then stop loss. Target Price: $0.00004300 to $0.00004150. $BONK