☄️BONK can Cut Two Zero This week?
Over the past week, the BONK token's price remained in a tight range between $0.0000198 and $0.0000241, with resistance at the upper boundary and support near the lower level. This consolidation phase follows a bounce from September lows around $0.000015, suggesting that while BONK’s market structure remains relatively bullish, it’s showing signs of moderation with lower price volatility compared to previous periods. Key levels to watch are the current $0.0000241 resistance and a potential breakout target of $0.0000339 if it surges past this range.
Trading activity has been variable, indicating that market participants are cautious and are still finding a consensus on BONK's fair value. The daily Relative Strength Index (RSI) is above the neutral mark, pointing to sustained buying interest, but the On-Balance Volume (OBV) is trending downward, hinting at weaker buying pressure. Bitcoin’s upward movement may indirectly influence BONK’s performance in the near term, with a possible increase in trading interest should Bitcoin continue its.
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