BONK Price Eyes Reversal as Bulls Regain Control: Key Levels to Watch

The BONK/USDT pair on Binance is showing signs of potential recovery after a long period of bearish movement. Let’s break down the current price action and technical signals based on the 4-hour chart.

Recent Price Action

After bottoming out around the 0.00001200 USDT level, BONK has mounted a notable bounce, recently reaching highs near 0.00001700. This upward momentum has caught the attention of traders, especially as it appears to be attempting a short-term trend reversal.

Downtrend Exhaustion and Reversal Attempt

The previous strong downtrend showed consistent lower highs and lower lows. However, we’ve now seen:

• A clear bullish bounce from recent lows
• Two strong green candles breaking above the 20-period EMA (Exponential Moving Average)

These are the early signs that selling pressure might be weakening and buyers are stepping back in.

EMA Insight – Short-Term Momentum Shifting

The 20 EMA, has acted as both resistance and support throughout the previous price action. Most notably:

• Price is now trading above the 20 EMA, suggesting a short-term bullish bias.
• A clean retest and bounce from the 0.00001575 area reinforces this potential support zone.

Key Resistance and Support Levels

• Immediate Resistance: 0.00001700 – This level has seen multiple rejections. A strong breakout above could trigger a rally toward 0.00001850 and beyond.
• Support to Watch: 0.00001575 – If this holds, bulls may continue to dominate. A break below could send BONK back toward the 0.00001400 zone.

Trading Outlook

The momentum is shifting in favor of the bulls, but we’re still in early stages of a possible trend reversal. Traders should watch for:

• A confirmed breakout above 0.00001700 with strong volume
• Support holding above 0.00001575 in case of pullbacks

Short-Term Sentiment: Neutral to Bullish
Medium-Term Signal: Watch for trend confirmation

Final Thoughts

BONK is showing life after a prolonged downtrend. If bulls can sustain this momentum and break through resistance, the token could see a strong recovery phase. However, caution is still warranted – keep your eyes on key levels and market volume.