Bonk (BONKUSDT) Market Overview

• BONKUSDT opened at $0.00002227 and closed at $0.00002088, declining by -7.58% over 24 hours.
• A sharp sell-off in late ET hours brought price below key support at $0.00002210 and triggered oversold RSI conditions.
• Volume surged over $425 billion in one candle, showing intense short-term dumping pressure.
• Bollinger Bands widened significantly during the drop, indicating heightened volatility.
• A bearish engulfing pattern formed near $0.0000227–$0.0000231, suggesting further downside risk if support levels break.

Bonk (BONKUSDT) opened at $0.00002227 and reached a high of $0.00002326 before plunging to a low of $0.00002088, closing at $0.00002088. Total notional turnover stood at $1.18 trillion on 549.7 billion volume traded across 24 hours.

Structure & Formations

Price formed a bearish engulfing pattern around $0.0000227–$0.0000231, signaling a shift in momentum. A key support level appears to have formed near $0.00002170, with a breakdown below $0.00002150 indicating potential for a test of $0.00002100. A doji formed at $0.0000224, hinting at indecision and a possible short-term pause in the decline.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both trended downward during the sharp sell-off, confirming bearish momentum. On the daily chart, the 50-period MA crossed below the 100- and 200-period MAs, forming a death cross pattern, which may signal further bearish momentum if the trend continues.

MACD & RSI

MACD lines turned negative and diverged from price during the late ET sell-off, confirming bearish momentum. RSI dropped into oversold territory below 30, suggesting potential for a short-term bounce, though bearish continuation is more likely without a strong reversal pattern.

Bollinger Bands

Bollinger Bands expanded sharply during the decline, showing increased volatility. Price has pulled back to the lower band, suggesting a potential rebound may occur if volume supports a short-covering move. However, a break below the lower band would indicate a continuation of the bearish trend.

Volume & Turnover

The largest single 15-minute candle (19:45 ET) recorded $425.54 billion in turnover and $221.61 billion in volume, showing aggressive dumping and a lack of immediate buying interest. Price and turnover diverged in the early morning session, with declining price but moderate volume, suggesting exhaustion of the sell-off.

Fibonacci Retracements

On the 15-minute chart, a key 61.8% retracement level appears at $0.00002186, which has already failed. On the daily chart, a 50% Fibonacci level at $0.00002150 may act as a short-term floor. A break below $0.00002100 could see BONK test the 61.8% level at $0.00002054.

The next 24 hours may see BONKUSDT consolidating near current levels if $0.00002170 holds. However, a break below $0.00002150 could trigger a deeper test of $0.00002100. Investors should remain cautious as momentum indicators remain bearish, and volatility remains elevated.