BONK has stabilized at the critical $0.00004002 support level, raising speculation about a potential recovery. This comes after a period of downward pressure. With bulls showing resilience and technical indicators signaling momentum, could BONK’s price be primed for a rebound?
Signs of a Bullish Rebound
BONK’s price action is drawing attention after holding steady at $0.00004002. This level has become a focal point for investors and traders looking for clues about the meme coin’s next move.
On the 4-hour chart, BONK is showing an upward trend but remains below the 100-day Simple Moving Average (SMA). After rebounding from support, the price is making its way toward the $0.00006247 resistance zone. A breakout above the 100-day SMA could confirm a recovery, opening doors for further gains.
Additionally, the Relative Strength Index (RSI) on the 4-hour chart shows growing buying pressure. As RSI nears 50%, it signals a potential shift toward bullish sentiment. If RSI continues to rise, BONK could gain the momentum needed to test higher resistance levels.
Daily Chart: Strength Above Support
On the daily timeframe, BONK is positioned above the 100-day SMA, bolstering hopes for upward movement. The recent rebound from $0.00004002 has established a strong foundation for growth. If momentum persists, BONK could break out toward $0.00006247, a critical resistance level.
The daily RSI supports this bullish outlook, holding steady above the 50% threshold. A continued climb in RSI would reflect increasing trader confidence, hinting at sustained price action and potential gains for the meme coin.
Potential Scenarios: Recovery or Consolidation?
BONK’s trajectory depends on its ability to maintain $0.00004002 as support. Sustaining momentum above this level could spark a recovery, pushing the price toward $0.00006247 and possibly higher.
However, failure to hold this support might lead to a downturn. If BONK slips below $0.00004002, the price could retest lower levels like $0.00002962 or even $0.00002320, indicating bearish sentiment.
