$BONK remains firmly within a broader downtrend after failing to sustain July’s recovery attempt.
The price has slipped below the 1.0 Fibonacci extension at $0.00000273, signaling weakened buyer support. Unless BONK quickly reclaims this level, further selling pressure could push the price toward lower support zones.
Open Interest has also dropped to 2 million contracts, indicating reduced leveraged exposure.
If buyers defend the $0.00000202 support and reclaim $0.00000273, BONK could see a relief rally toward the $0.00000380–$0.00000400 resistance zone.
However, a breakdown below $0.00000202 could extend the downtrend toward the $0.00000121 Fibonacci extension.
#BONK #UpBit #Meme Alpha#
The price has slipped below the 1.0 Fibonacci extension at $0.00000273, signaling weakened buyer support. Unless BONK quickly reclaims this level, further selling pressure could push the price toward lower support zones.
Open Interest has also dropped to 2 million contracts, indicating reduced leveraged exposure.
If buyers defend the $0.00000202 support and reclaim $0.00000273, BONK could see a relief rally toward the $0.00000380–$0.00000400 resistance zone.
However, a breakdown below $0.00000202 could extend the downtrend toward the $0.00000121 Fibonacci extension.
#BONK #UpBit #Meme Alpha#