The analysis of BONK's price dynamics shows it is currently in a corrective zone after a sharp drop from its highs. Let’s examine the current situation and technical indicators.
Current BONK Correction
The aggressive sell-off from maximum levels has led BONK into a corrective phase. Currently, the price is testing the Golden Pocket Fibonacci level, supported by daily support and the point of control. The market structure remains bullish, with higher highs and higher lows still defining the trend.
Technical Price Points of BONK
BONK is consolidating at the 0.618 Fibonacci level, which aligns with daily support. Recent activities indicate a healthy correction after the recent impulsive rally. If BONK can reclaim old levels, this could confirm the continuation of an uptrend.
Price Movement Expectations
If BONK reclaims daily support with strong bullish volume, the likelihood of a reversal toward previous levels significantly increases. A successful reclaim may lead to another higher high, while losing this level could signal a deeper correction.
The overall situation with BONK confirms a bullish trend, provided that current support holds. It is crucial to monitor trading volumes as they will determine future price movements.
