BONK/USDT Tests Key Support
$BONK

Moving Averages:

The 200 SMA is positioned at 0.00002201, indicating that the asset is currently trading below this level, signaling a bearish trend on the 4-hour chart.The 20 SMA sits closer at 0.00002112, which suggests a possible resistance in the short-term.

VWAP:

VWAP currently reads at 0.00002086, placing it near the current price, which indicates potential consolidation around this level.

RSI:

RSI stands at 40.70, which is below the neutral 50, indicating a bearish bias but not yet in oversold territory.

MACD:

MACD Line: -0.00000008Signal Line: -0.00000005Histogram: -0.00000042The MACD remains below the signal line, which signals bearish momentum, though the histogram shows a gradual reduction in negative momentum, potentially indicating a slowdown in the downtrend.

Support/Resistance Levels:

Immediate Support: 0.00002000Key Resistance: 0.00002250

Bullish Scenario:
If the price stabilizes above the immediate support of 0.00002000 and breaks past the 200 SMA at 0.00002201, it may move towards the resistance at 0.00002250, with potential to rally further if momentum increases.

Bearish Scenario:
Failure to hold above the 0.00002000 support could lead to further declines towards the 0.00001800 level, with increased bearish sentiment.

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Always perform your own research before making trading decisions.