🚨Technical Analysis Report for BONK/USDT (15-Minute Chart)💰🤑
Price Action Overview: The BONK/USDT pair has shown high volatility on the 15-minute chart, with a recent sharp upward momentum followed by a retracement. The current price is $0.00005100, showing an 8.91% decline over the last 24 hours. Despite the dip, the coin exhibited a temporary bullish spike, indicating trader interest at lower levels.
Key Levels:
Resistance Levels (Red - Bearish):
Primary Resistance: $0.00005700 (24-hour high)
Secondary Resistance: $0.00005272
Support Levels (Green - Bullish):
Primary Support: $0.00004655 (24-hour low)
Secondary Support: $0.00004625
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Trade Signals:
1. Short Trade Setup:
Entry Point: $0.00005250 (near resistance)
Take Profit Targets:
Target 1: $0.00005050
Target 2: $0.00004850
Target 3: $0.00004655
Stop Loss: $0.00005700
2. Long Trade Setup:
Entry Point: $0.00004655 (support level bounce)
Take Profit Targets:
Target 1: $0.00005050
Target 2: $0.00005250
Target 3: $0.00005700
Stop Loss: $0.00004550
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Indicators Summary:
RSI: 67.97, indicating a near-overbought condition—traders should watch for possible corrections.
Volume: Significant surge in recent hours with 7.32T BONK traded, signaling increased market activity.
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Trading Tips:
Watch for a breakout above $0.00005700 for a sustained bullish rally.
Monitor support at $0.00004655; a breakdown below could lead to further decline.
Manage risk with strict stop-loss levels due to high volatility.
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Stay cautious and ensure appropriate risk management strategies before trading this highly volatile pair.
