Bonk Inu (BONK) Resumes Correction, Here Are Key Levels to Watch

Amid the latest sharp decline across the market, meme coins are posting a huge loss as they resume correction broadly.

Meme coins are posting a huge loss as they resume correction broadly across the market. Bonk suffered the most loss amongst the top ten, with a 16% decrease since yesterday.

The last 24 hours have been turbulent in the crypto space following a sudden meltdown in altcoin prices. This came after Bitcoin cut an insane $5k from its opening price during yesterday’s trading.

That dump seriously affected Bonk’s recovery, and the price nosedived through the $0.00003 level to test the $0.000028 region today. Supply currently looks heavy, and there is no sign of slowing down bleeding.

Following the breakdown, Bonk may target the $0.00002 level that flipped as resistance during the November 2024 rally. Though that level is marked as a fair value gap. A retest there could bring back buying.

Nevertheless, Bonk’s trajectory is still considered bullish on a long-term scale. A strong rebound should put the bulls back on track after witnessing a broader correction.

Though the overall market structure still assures more upside movement on the macro scale. But looking at the setup, this could mark the end of the last phase of the bull run if the ongoing bearish move extends below the August 2024 low.

BONK’s Key Level To Watch

Source: Tradingview

Now that the price is correcting broadly, Bonk Inu may navigate the $0.000025 level for support in the near term before testing the main $0.0000212 level. Below it lies $0.0000184.

Right now, the broken $0.00003 level is acting as key resistance for a potential recovery. Above it lies the $0,0000369 resistance level that activated a sell yesterday. Reclaiming those levels should activate a new buying phase to $0.0000444 and $0.00006.

Key Resistance Levels: $0.00003, $0.0000369, $0.0000444

Key Support Levels: $0.000025, $0.0000213, $0.0000184

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any stocks.

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