Bonk Coin has risen 19% in the last 24 hours, but a pullback may be inevitable

Bonk Coin (BONK) has surged nearly 30% since Monday, but a pullback may occur in the short term.

In the past few days, BONK has rebounded 32.2% from a low of $0.0000171. Despite strong bullish reactions, the market structure still appears bearish on the daily chart. The OBV (On-Balance Volume) remains in a downward trend, indicating a lack of sufficient buying pressure to push the price above $0.000024. #3370759661

Analysis shows that BONK's previous trading range ($0.0000197 to $0.0000241) has been invalidated, with the price breaking below the lower end of the range, hitting the 78.6% Fibonacci retracement level at $0.0000174, and rebounding from there. Although the RSI has surpassed 50, indicating a shift in momentum towards buyers, the lack of sufficient buying volume suggests that the likelihood of a reversal from local highs in the coming days is greater than a breakout.

In the short term, $0.000023 and $0.0000262 are bullish targets, but the risk of a pullback is high if more buying volume is not achieved. #DOGE看涨情绪飙升 #BTC创历史新高 #美国大选后涨或跌？

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