BONK approaches critical support: will a Double Bottom launch the next move?
2025-06-30 18:12:27
Main Idea
BONK's price is at a critical technical level (point of control) which could determine its trend in the coming weeks, with potential for a double bottom formation if support holds.
Key Points
1. BONK is currently testing the point of control (POC), a key volume-based level that could define its next directional move.
2. If the POC holds, BONK may form a double bottom, signaling a potential reversal toward previous highs.
3. Volume resurgence is crucial for a bullish scenario to materialize.
4. Failure to hold the POC could lead to further downside into the value area.
Description
BONK is nearing a critical support zone that could trigger a bullish double bottom structure if defended. This level is packed with technical confluence, and the next move could define BONK’s trend for the coming weeks. After a period of consolidation and downside pressure, BONK ( BONK ) is now trading near the most critical region on its chart, a zone where a potential bottoming structure could emerge. Price has recently pulled back into the point of control, which marks the most traded level w...
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