BONK Struggles to Recover Amid Ongoing Downtrend
Key Takeaways
- BONK has been trading within a descending price channel since March 2025.
- Key support lies at USD 0.0000099 – tested twice already.
- Technical indicators suggest a short-term recovery, but no clear trend reversal.
- Liquidation data points to potential price targets at USD 0.0000113 and USD 0.000014.
- Traders should wait for confirmation via volume and a break in structure.
Current Market Situation for BONK
Since March 2025, the meme coin BONK has been in a downward trending channel. The price movement shows a clear structure of lower highs and lower lows. Notably, the price has tested the USD 0.0000099 level twice – a support zone that was already relevant in early 2024.
Although the price saw a slight increase last week, the overall picture remains bearish. The Relative Strength Index (RSI) climbed above the neutral 50 mark, suggesting short-term positive momentum. However, without accompanying volume, this move lacks conviction.
Technical Analysis: Resistance and Support Levels
The current price channel provides clear reference points for potential price targets. The midline of the channel acts as short-term resistance. If BONK manages to break through this area, the next target lies around USD 0.0000113. According to liquidation data, this level could act as a magnet for price movement.
Another important target is at USD 0.000014 – the upper boundary of the channel. This area may see increased selling pressure, as many short positions would be liquidated. A rise to this level would represent a price increase of around 25% from the current level.
Volume and Demand Remain Weak
A look at the On-Balance Volume (OBV) shows that demand for BONK is currently low. The OBV is at the same level as in February and March 2025. Despite the recent price uptick, there are no signs of sustained buying pressure. This suggests that the current recovery is more of a technical reaction than a true directional shift.
Strategy for Traders
Those looking to trade BONK should align with the existing structure. As long as there is no clear breakout from the descending channel, the trend remains downward. Price bounces – short-term upward movements – offer opportunities for short positions. Only when volume picks up and a structural break occurs can a trend reversal be considered.
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Our Assessment
BONK is currently showing typical characteristics of a weak market: falling prices, low demand, and technical reactions without substance. While a short-term rise to USD 0.000014 is possible, caution is advised without clear signals of a trend reversal. Active traders should look for confirmation through volume and market structure. For long-term investors, current levels do not present an attractive entry point.
Sources
- Coinglass
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