It depends on your trading strategy and risk tolerance. Here's a breakdown to help you decide:
1. Hold:
If you believe in BONK's long-term potential or expect a recovery soon, holding may be the better option.
Consider the current support level of $0.00005180. If this holds, there may be a rebound.
2. Sell:
If you’re concerned about the bearish momentum and a potential break below $0.00005162, selling might minimize further losses.
A stop-loss at $0.00005162 or slightly below could help protect against downside risks.
3. Watch for Breakouts:
If BONK breaks above resistance at $0.00005293 or $0.00005424, it could signal upward momentum for short-term gains.
A breakdown below $0.00005162 could lead to sharper losses, offering an opportunity for short positions.
4. Trading Tips:
Use tight stop-losses to manage risks effectively.
Monitor trading volumes and RSI indicators for signs of reversals or trend continuation.
Always trade with a plan and avoid emotional decisions. If uncertain, it may be wise to observe the market rather than act impulsively.
