Bonk (BONK) demonstrated strong performance recently in the cryptocurrency market, impacting its trading activity. Investors noted that the bullish sentiment surrounding BONK initially drove its value up, but this positivity waned shortly after.

Analyzing the trends on the chart, it was evident that BONK struggled to surpass the $0.0000293 mark, indicating potential losses ahead. Rejection at this level on April 24 and 25 served as a significant resistance point based on Fibonacci levels from March.

The market structure, viewed from a higher time frame, suggested the possibility of a further downtrend if BONK prices fell below $0.0000176. Conversely, the consolidation phase indicated by the range (shown in purple) could signal an upcoming uptrend.

Indicators such as the RSI at 56 and CMF at +0.1 highlighted increasing buying pressure and strong capital inflows, hinting at a potential bullish trend in the future.

Looking ahead, the price chart revealed that BONK's lowest levels reached $0.000014, with notable liquidation zones at $0.000021 and $0.0000315. The likelihood of BONK reaching these levels appeared more realistic compared to dropping to $0.000014.

However, caution is advised as future market movements could be influenced by the upcoming Fed interest rate decision and other economic events in the week.

As of the latest data, BONK attracted buyers at the $0.00002536 level, marking a 1.43% increase and pushing the market volume above $1.65 billion. Despite this, trading volume decreased to $310 million.

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