BONK Rebounds from Key Demand Zone Amid Growing Market Interest
BONK (BONK/USDT) recorded a modest 3% price increase, trading around $0.00002084, as buyers stepped in near the $0.00001900–$0.00002000 support area. The rebound highlights the importance of this green demand zone, which has consistently served as a base for recovery attempts in recent weeks.
The chart illustrates that BONK experienced a sharp decline after peaking near $0.00004500, with sellers dominating throughout August and early September. However, the token managed to find stability within the support zone, sparking renewed interest from short-term traders.
“The $0.00001900 region is a make-or-break level for BONK. Holding above it provides room for another test of higher resistances, while a breakdown could extend the bearish trend,” said one of BITX analyst monitoring the move.
Technical Overview
- Immediate support: $0.00001900–$0.00002000
- Nearest resistance: $0.00002300–$0.00002600
- Major supply zone: $0.00004000–$0.00004500
- Market volume: Healthy, but not yet signaling a breakout trend
The price action suggests BONK is consolidating between its support and resistance zones, with the $0.00002300–$0.00002600 range emerging as the next hurdle for buyers. Breaking above this level could pave the way for a retest of the $0.00004000 resistance, a region that previously triggered sharp reversals.
Market participants remain cautiously optimistic. While the recent 3% surge provides short-term relief, BONK still trades well below its late-summer highs. Analysts warn that momentum must build above $0.00002300 to confirm a sustainable recovery.
“The market is showing signs of stabilization, but BONK will need strong buying volume to shift the trend back in favor of bulls. Until then, range-bound trading remains the base case,” noted BITX strategists.
If support holds, BONK may continue its gradual climb. However, a break below $0.00001900 risks dragging the token lower toward $0.00001500 levels, erasing recent gains.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.