BONK's bearish trend persisted as it broke through the critical support level of $0.00002508. This downward movement started from the resistance point at $0.00002919, suggesting that sellers are taking control in the short term. The broader crypto market also experienced a decline, with Bitcoin dropping from $64.7k to $62.3k, marking a 3.78% decrease in its price.

The daily chart for BONK indicated that the bullish momentum reached its peak at $0.00003 before bearish candles began dominating the price action. The Chaikin Money Flow (CMF) showed a negative reading, indicating increased capital outflows along with the price drop. Additionally, the Relative Strength Index (RSI) exhibited greater selling pressure, signaling a bearish trend on the four-hour timeframe.

As BONK currently trades at $0.0000235, traders may consider shorting the token with a profit target of 15% at the next support level of $0.00002, provided that the price falls below the previous significant bullish candle. On the other hand, a bullish reversal would need to surpass the new resistance at $0.0000250 before aiming for gains at the $0.00003 price level. Such a reversal would rely on higher trading volume and fresh capital inflows.