Technical analysis of $BONK

Below is a breakdown of the points raised:

1. *Down channel*: The price is moving in a descending channel on the 12-hour time frame, indicating a downtrend.

2. *Support Zone*: The lower border of the channel, around 2.20, is a strong support zone where the price is expected to rise.

3. *100-period Moving Average*: The price needs to stay above the 100-period Moving Average, this is a strong support level for the uptrend.

4. *Oversold RSI*: The relative strength index (RSI) is showing oversold conditions, which could support price increases and a strong uptrend.

Overall, the analysis suggests a likely recovery or upward movement for BONK.#BONK🔥🔥 #USDT