The 1000BONK/USDT pair is showing promising potential as it bounces off the key support zone near 0.0238. This level has held strong, suggesting an upward movement is on the horizon, and we might witness a breakout soon.
Key Points:
Support Zone: After days of consolidavtion, the price has already increased by +5.72%, indicating that buyers are stepping in. The repeated testing of the support zone shows its strength, making it a potential launchpad for the next upward move.
Trendline Breakout: A descending trendline since July 2024 has acted as resistance, but the price is now testing and breaking through this level. This is a bullish sign, and if momentum holds, we could see a significant rally.
Price Targets:
First target: 0.0478 (~50% gain) â this is the recent high from early 2024.
Second target: 0.0600 (over 100% gain) â the major resistance from previous peaks. If the breakout holds, these targets are achievable.
Risk Management: To protect against downside risk, place a stop-loss just below 0.0210, the critical support level, in case of a reversal.
Conclusion:
This is a pivotal moment for BONK/USDT. A trendline breakout could lead to strong gains, with the potential for a 50% to 100% rise if the momentum continues. However, it's important to manage risk by setting stop-losses and planning trades carefully.
Stay tuned for further updates as we track this breakout opportunity!
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