Technical Analysis for $BONK

/USDT

The current price of #BONK/USDT is 0.00003221, trading within a clear descending channel in the short term. A strong support is identified at 0.00002773 (Fibonacci 0.786 retracement level). If the price bounces from this support and breaks out of the channel, the following targets can be expected:

T1 : 0.00004395

T2: 0.00005058

T3 0.00005693

A breakout above these levels could result in potential gains of 123%. However, failure to break out could lead the price to retest the support at 0.00002773, with a possible drop toward 0.00002272 as the stop-loss zone