- Resistance Holds Robust: BONK was rejected once more on the $0.0000249 stage, the identical resistance it failed to interrupt earlier in Could, regardless of sustaining a bullish construction general.
- Trendline Nonetheless Intact: The token continues to defend a rising trendline on the each day chart, with regular OBV and buying and selling quantity suggesting underlying shopping for strain stays.
- Purchase Zone Forward: If BONK dips to the $0.000018 vary or retests the trendline help, these areas might provide strong dip-buying alternatives so long as broader market sentiment doesn’t deteriorate.
Alright, let’s break this down. BONK simply hit a wall—once more—at $0.0000249. That stage smacked the bulls again on Could 14 too, and now it’s doing the identical factor. On the each day chart, the construction nonetheless leans bullish, however that resistance? It’s proving to be cussed.
For nearly a month, BONK has held up fairly nicely alongside a rising trendline. However yeah, this latest rejection? It’s a transparent reminder we’re not out of the woods but.
Quantity’s Up, OBV Seems Strong
Right here’s the kicker: buying and selling quantity hasn’t actually dipped. It’s been holding regular for the previous three weeks. That’s helped the On-Stability Quantity (OBV) transfer increased all through Could—although the beginning of the month was a bit uneven. New OBV highs imply there’s nonetheless shopping for strain on the market, even when value motion is taking a breather.
And the RSI? It was tremendous bullish, however now it’s cooled off. It’s hovering nearer to that impartial 50 zone, which simply means the momentum’s sort of…meh. Nonetheless, that doesn’t scream reversal. If something, it factors to a possible reload spot for bulls.
Zooming In: The place’s the Dip Purchase?
Now let’s discuss shorter timeframes. The 4-hour chart paints an image of a spread—fairly clear one, too. We’ve been bouncing between $0.000018 and $0.000024 for about 10 days. The center of that vary is round $0.000021, and that stage truly held up lately… till it didn’t.
The RSI on this timeframe says bearish momentum’s creeping in. However quantity? Nonetheless low on the latest drop. OBV hasn’t cratered both. That’s a clue: consumers aren’t gone—they’re simply ready.
Bitcoin’s reset from the $111K mark dragged BONK down a bit, pushing it under that $0.000021 line. Now, we’re eyeing both the trendline help or a dip towards $0.000018.
Backside Line
This isn’t panic mode. It’s extra like a cooldown. If BONK revisits the trendline or dips to that $0.000018 low, that might be a strong entry level for people trying to experience the subsequent bounce.
Simply don’t chase the pump… let it come to you.