Is a BONK breakout imminent? Key support at $0.00004972, short-term trading strategy revealed!

Market Overview:

The current price of BONK is $0.00004972, recently oscillating around $0.00004900. With the arrival of the evening trading session, price fluctuations may intensify. BONK may experience a breakout in the short term, especially if the price can break through the current consolidation range, which could trigger a rapid rise.

Technical Analysis and Key Levels:

Support Level: $0.00004900. Over the past few hours, BONK has tested this price level multiple times without breaking below it, forming a strong support area. If the price retraces to this area, a rebound is expected. Resistance Level: $0.00005100. After breaking through $0.00005100, BONK may see a larger upward movement. The current high is close to this price, and after a breakout, it is expected to continue towards $0.00005250.

From a technical perspective, the price of BONK is currently in a consolidation range. If it breaks the upward resistance level of $0.00005100, it may trigger a significant upward trend.

Short-term Contract Strategy:

Long Strategy:

Entry Point: $0.00004980, if the price breaks $0.00005100 and holds steady. Stop Loss: $0.00004850, if the price falls below the support range, cut losses promptly. Take Profit: $0.00005200, target price close to the resistance area, if broken, it may continue to rise. Leverage Recommendation: 4x leverage. Considering the high volatility of BONK, using 4x leverage can significantly amplify profits while maintaining a reasonable risk control range.

Short Strategy:

Entry Point: $0.00004950, if the price fails to break $0.00005100 and shows a pullback. Stop Loss: $0.00005150, to prevent the price from breaking through and maintaining an upward trend. Take Profit: $0.00004800, if the price retraces to the support area, timely profit-taking is advisable. Leverage Recommendation: 3x leverage. Since the market may rebound when shorting, using moderate leverage can help reduce risk.

In the short term, the price of BONK may oscillate within the range of $0.00004850 to $0.00005100. If the price breaks $0.00005100, it may surge to $0.00005200, or even higher. Conversely, if it fails to break the resistance level, it may fall back to the support level near $0.00004850 and enter a sideways consolidation.