BONKUSDT Analysis | the first dog-themed coin on Solana
The price has broken below the **0.382 Fibonacci retracement level**, signaling potential further downside. The next key support levels to watch are:
- The **0.5 Fibonacci retracement level** (~$0.0349).
- The **200-day MA** (red line), which is positioned near **$0.0259**, offering strong dynamic support.
- **RSI**: At ~40, indicating bearish momentum, nearing oversold conditions.
- **MACD**: Bearish crossover, confirming downward momentum.
- **OBV**: Trending lower, reflecting reduced accumulation.
Keep a close eye on the **0.5 Fib level** for a reaction; if it breaks, the **200-day MA** is the last major support to prevent a deeper correction. Stay cautious!
- The **0.5 Fibonacci retracement level** (~$0.0349).
- The **200-day MA** (red line), which is positioned near **$0.0259**, offering strong dynamic support.
- **RSI**: At ~40, indicating bearish momentum, nearing oversold conditions.
- **MACD**: Bearish crossover, confirming downward momentum.
- **OBV**: Trending lower, reflecting reduced accumulation.
Keep a close eye on the **0.5 Fib level** for a reaction; if it breaks, the **200-day MA** is the last major support to prevent a deeper correction. Stay cautious!
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