BONK Night Market Volatility! Breakthrough or Correction? Must-Watch for Short-Term Traders Tonight!

Real-time Price: $0.00004234

BONK (BONK Coin) has recently been active in the market, currently priced at $0.00004234, showing a slight correction compared to previous highs but still within a fluctuating range. In the current market environment, short-term traders may seize the opportunities for arbitrage. So, will BONK choose to break upward tonight, or continue to fluctuate and correct? Let’s predict the upcoming trend through technical analysis and provide suitable short-term trading strategies.

Support and Resistance Levels

Support Level:

$0.00004150: Recent low, this position is a strong support level for BONK's price. If this support is broken, a larger correction may follow. $0.00004000: A stronger support area; if market sentiment deteriorates significantly, the price might fall to this level.

Resistance Level:

$0.00004350: The main resistance level in the short term; breaking this position may trigger an upward surge. $0.00004500: If the price breaks above $0.00004350 and stays above this level, further upward momentum may be anticipated.

1. Long Strategy:

Entry Point: When BONK breaks $0.00004350 and confirms the breakout is valid, consider entering a long position. Stop Loss: It is advisable to set a stop loss at $0.00004150; if this support is broken, the trend may change. Target Price: Set the target at $0.00004500; if the upward momentum continues, the target position may be further adjusted.

2. Short Strategy:

Entry Point: If BONK drops to $0.00004150 and loses this support, consider entering a short position. Take Profit Point: Set the target at $0.00004000; if the price breaks this support area, you can continue to hold the position.

In the current market, BONK's short-term trend remains full of uncertainty. If the price breaks $0.00004350 and holds, there may be an opportunity to rise to $0.00004500. However, if it fails to break, it may continue to descend, especially if it breaks below $0.00004150, the likelihood of a short-term correction to $0.00004000 is quite high.

Considering that BONK has shown some upward momentum after fluctuating at low levels, short-term traders can focus on trading opportunities at breakout levels. $BONK