$BONK

Currently, the price of **Bonk (BONK)** is trading around **$0.00003054**, down approximately **14.62%** compared to the previous session.

Technical Analysis:

1. Price Chart and Trend:

- BONK has experienced a significant price drop, from a daily high of **$0.00003593** to a low of **$0.00002902**, indicating that selling pressure is dominant.

2. Technical Indicators:

- **Moving Average (MA):** The price is currently below the short-term MAs, indicating a downtrend in the short term.

- **RSI (Relative Strength Index):** The RSI may be approaching the oversold zone, suggesting the possibility of a price recovery or a further decline.

3. Support and Resistance Levels:

- **Support:** The nearest support level may be around **$0.00002900**; if broken, the price could decline further.

- **Resistance:** An important resistance level may be at **$0.00003500**; if surpassed, BONK could continue its upward trend.

Suggested Trading Strategy:

- Buy Strategy:

- Consider buying when the price approaches or bounces off the support level of **$0.00002900**, with the expectation of a recovery to the resistance level of **$0.00003500**.

- Set a stop-loss order below **$0.00002800** to minimize risk.

- Sell Strategy:

- Consider selling if the price fails to hold the support level of **$0.00002900**, forecasting a continued downtrend.

- Set a profit target at **$0.00003500** if purchased at the support level.

Note:

- The cryptocurrency market is highly volatile; it is advisable to monitor closely and adjust strategies in a timely manner.

- The analysis provided is for reference only and does not guarantee investment results.#BONK🔥🔥 #BTC☀ $BTC