BONK has a bearish market structure and strong downward momentum.
Yet the former resistance zone at $0.000014 is likely to act as a demand zone in the coming days.
Bonk [BONK] rallied 278.5% between 13th December and 15th December. The past ten days saw the meme coin drop lower but this was no more than a large pullback. The bulls have reason to be confident of another run northward.
A recent AMBCrypto report noted that trading volume in the spot markets was down as prices slumped lower. Yet, evidence from the six-hour price chart showed buyers were very much still in the fight.
The former bearish order block is now an area of interest
Source: BONK/USDT on TradingView
In the past two weeks, BONK has declined by 55.5%. It was trading at $0.0000155, close to the $0.0000147 support level that is the 78.6% retracement level, and additionally, the $0.000014 zone, marked in cyan, is a zone of demand.
It had served as resistance earlier this month but has been breached. The rally above this
We współpracy z: https://ambcrypto.com/bonk-price-prediction-shows-bulls-can-pull-off-another-move-north/
