$BONK will go higher ⁉️
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The current market is showing short-term bearish signs due to growing fears of a global recession, and Bitcoin's bearish trend is further dampening overall market sentiment. Solana, which is crucial for BONK, has also experienced a significant bearish breakout. Fundamentally, BONK isn’t looking strong due to these bearish trends, and technically, it needs a challenging 20% breakout to reverse into an uptrend. Given the combination of these factors, I'm bearish on BONK. However, there’s a strong support level at 2000, which has been a reliable bounce point in the past six months. Despite this, I don’t recommend setting a limit order at 2000 due to the risk of a market crash. Instead, I suggest setting a price alert at 2000 and considering a buy if the market stabilizes. My expectation is that BONK might drop to 2000, with a potential bounce from there, so adjust your strategy accordingly.
