$BONK
/USDT technical analysis and trade strategy🎯🚀
Technical Analysis
Price Action: Currently, BONK/USDT is trading at 0.00004523 USDT, reflecting a +7.13% gain in the last 24 hours. It is also near the 24h high of 0.00004595 USDT, suggesting some upward momentum.
Support/Resistance:
Support Levels: The key support is around 0.00004208 USDT (24h low), which could act as a floor if the price starts to pull back.
Resistance Levels: The 24h high of 0.00004595 USDT could act as the immediate resistance level. A break above this level may indicate further bullish movement.
Trade Strategy with Target Levels 🎯
1. Target 1 🎯 (Near-term Target):
Entry: Consider entering near the current price level (0.00004523 USDT).
Target Price: 0.00004650 USDT
Rationale: This target is just above the current resistance, offering a short-term gain if the price continues upward. A breakout above 0.00004595 could push prices toward 0.00004650.
2. Target 2 🎯 (Mid-term Target):
Entry: If the price retraces to support at 0.00004208 USDT, consider adding more to your position.
Target Price: 0.00004800 USDT
Rationale: A solid retracement could offer a good risk/reward setup. The mid-term target looks at a potential continuation toward 0.00004800 if the upward trend continues.
3. Target 3 🎯 (Long-term Target):
Entry: Buy during any price dips near the support level or a breakout above the current resistance.
Target Price: 0.00005000 USDT
Rationale: Given the strong 30-day and 90-day percentage increases (104.48% and 182.39%, respectively), a long-term target of 0.00005000 USDT is reasonable if the upward trend persists.
Stop-Loss & Risk Management
Stop-Loss: Set a stop-loss around 0.00004100 USDT to protect against a major price drop, just below the recent support level (0.00004208).
Risk Management: Only risk 1-2% of your trading capital per trade, adjusting the position size accordingly.