A 30% rebound is possible as the bonk price nears a critical reversal zone.

After reaching a peak of $0.0000444 on May 28, the price of Bonk fell 30%.

Between $0.0000293 and $0.0000278, there is support that investors might use to accumulate BONK.


The price of Bonk (BONK) has fallen 30% from its previous high and is now heading towards a crucial support area. If you're an investor hoping the meme currency will recover and continue its upward path, you may want to consider purchasing during this drop.

Bonk is approaching a critical support level

After reaching a high of $0.0000444 on May 28, the price of bonk fell 30% and is now retracing to a crucial support level between $0.0000293 and $0.0000283. This zone is ideal for buying on the drop since it encompasses:

The $0.000030–$0.0000283 range serves as a daily support level that lines up with the imbalance, at $0.0000293.

From the low of $0.0000121 on April 13 to the high of $0.0000444 on May 28, the 50-day Exponential Moving Average (EMA) is at $0.0000289, which is broadly in line with the 50% Fibonacci retracement level at $0.0000283.

By amassing this Solana-based meme currency in this region, interested parties may anticipate a possible reversal of the slump. Following a recovery from the $0.0000293 level, the price of Bonk has the potential to increase by 28%, with the goal of recovering its all-time high of $0.0000377, which was recorded on May 30. Indicators like the Relative Strength Index (RSI) and Awesome Oscillator (AO) are attempting to settle around their respective mean values of 50 and 0, lending credence to the previously noted rebound.

Nevertheless, a shift in trend in favor of bears might occur if the BONK daily candlestick closes below $0.0000206 and establishes a lower bottom on the daily time frame. The bullish thesis would be rendered useless as a result of this shift in market structure, which would trigger a 16% decline in the price of Bonk, causing it to retest the $0.0000173 support level.


#BONK #Solana $BONK @Bonk!