Bonk

Coin

<ul class="news-points"> 
 <li>BONK (BONK) faces an 8% drop in 24 hours, testing support at $0.00001103 amid increasing selling pressure.</li> 
 <li>BONK’s market cap and trading volume dropped by 7.34% and 14.55%, signalling waning investor confidence.</li> 
 <li>Technical indicators like MACD, RSI, and Aroon suggest a bearish trend for BONK/USD in the short term.</li> 
</ul> 
Bonk (BONK) has been in a bearish rally over the last 24 hours, dropping from an intra-day high of $0.00001207 to a low of $0.00001103, where support was reached. This price drop is likely attributable to increasing selling pressure and profit-taking by traders. 
Despite the negative trend, the support level shows there may still be some buying activity at this price point, given BONK’s 0.83% increase in the previous week. At press time, BONK was trading at $0.00001109, down 8.23% from its 24-hour high. 
If this bearish trend continues, it could potentially test the next support level at $0.00001050. However, if buying pressure increases and the support level holds, <a href="https://coinedition.com/bonk-price-prediction/" target="_blank" rel="noreferrer noopener">BONK may have a chance to recover</a> and retest its previous high.&nbsp; 
<figure class="wp-block-image size-full">
 <img decoding="async" width="761" height="593" src="https://coinedition.com/wp-content/uploads/2024/01/BONK-USD-24-hour-price-chart-source-CoinStats-1.png" alt="" class="wp-image-368502" srcset="https://coinedition.com/wp-content/uploads/2024/01/BONK-USD-24-hour-price-chart-source-CoinStats-1.png 761w, https://coinedition.com/wp-content/uploads/2024/01/BONK-USD-24-hour-price-chart-source-CoinStats-1-300x234.png 300w, https://coinedition.com/wp-content/uploads/2024/01/BONK-USD-24-hour-price-chart-source-CoinStats-1-380x296.png 380w, https://coinedition.com/wp-content/uploads/2024/01/BONK-USD-24-hour-price-chart-source-CoinStats-1-114x89.png 114w, https://coinedition.com/wp-content/uploads/2024/01/BONK-USD-24-hour-price-chart-source-CoinStats-1-571x445.png 571w, https://coinedition.com/wp-content/uploads/2024/01/BONK-USD-24-hour-price-chart-source-CoinStats-1-317x247.png 317w, https://coinedition.com/wp-content/uploads/2024/01/BONK-USD-24-hour-price-chart-source-CoinStats-1-308x240.png 308w, https://coinedition.com/wp-content/uploads/2024/01/BONK-USD-24-hour-price-chart-source-CoinStats-1-212x165.png 212w, https://coinedition.com/wp-content/uploads/2024/01/BONK-USD-24-hour-price-chart-source-CoinStats-1-271x211.png 271w, https://coinedition.com/wp-content/uploads/2024/01/BONK-USD-24-hour-price-chart-source-CoinStats-1-90x70.png 90w, https://coinedition.com/wp-content/uploads/2024/01/BONK-USD-24-hour-price-chart-source-CoinStats-1-96x75.png 96w" sizes="(max-width: 761px) 100vw, 761px">
 <figcaption class="wp-element-caption">
 BONK/USD 24-hour price chart (source: <a href="https://coinstats.app/coins/bonk/" target="_blank" rel="nofollow">CoinStats</a>)
 </figcaption>
</figure> 
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The post <a href="https://coinedition.com/bonk-dives-over-8-amid-mounting-selling-pressure-will-support-level-hold/">BONK Dives Over 8% Amid Mounting Selling Pressure: Will Support Level Hold?</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

BONK Dives Over 8% Amid Mounting Selling Pressure: Will Support Level Hold?

Coin Edition

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