BONK Bull Trend Could Resume Following Critical Support Test
Despite a slight retreat, BONK’s bullish momentum hasn’t faded. Price has pulled back towards a robust support zone, setting up a potential bounce.
The asset faces a key test at a support area where several technical factors converge—the point of control, the 200 EMA, and the 0.618 Fibonacci retracement. Holdings here are crucial for confirming a rebound.
A successful defense at this junction may propel BONK back towards its daily resistance and recent swing high. the asset’s long-term bullish structure remains unbroken, characterized by successive higher highs and higher lows.
- Key Support Zone: Intersection of point of control, 200 EMA, and 0.618 Fibonacci retracement.
- Resistance Aim: Daily resistance and previous swing high.
- Current Trend: Bullish bias persists throughout corrections.
This zone has historically sparked bullish reverals, especially in trending assets like BONK. A strong confirmation signal will involve a new high supported by increasing volume.
The point of control is especially noteworthy. As the highest volume traded, it frequently enough attracts buyers. Any breakthrough here, coupled wiht growing bullish volume, can confirm renewed interest.
Next movements will likely be confined between the main support and daily resistance. A decisive breach above daily resistance could pave the way towards new highs.
To summarize, maintaining the support zone means a bullish shift remains probable. traders should monitor for volume-increased higher lows. Breaking daily resistance will affirm bullish forces, looking ahead to further gains.
