BONK, PENGU, ENA: Price Dips Sharpen Focus on Fibonacci Retracement Targets
Main Idea
BONK, PENGU, and ENA cryptocurrencies are experiencing price dips, with key Fibonacci retracement levels being monitored for potential support or further declines.
Key Points
1. BONK is nearing a confluence zone around the 0.5 Fib level and 200 EMA, with potential further downside to $0.00002612 if support fails.
2. PENGU is testing support at $0.0376 (0.236 Fib), with possible deeper pullback targets at $0.0317 (0.382 Fib) and $0.0271 (0.5 Fib).
3. ENA is consolidating after a steep drop, with key support levels at $0.5170 (0.382 Fib) and $0.4608 (0.5 Fib), and a critical zone near the 200 EMA at $0.4045.
4. Decreasing volume for PENGU and ENA signals weakening momentum, while BONK has already seen an 11.48% drop in 24 hours.
5. Investors are closely watching Fibonacci retracement levels (0.382 and 0.5 Fib) as potential areas for price stabilization or further declines.
Description
BONK risks deeper correction as it nears confluence zone around 0.5 Fib and 200 EMA PENGU eyes $0.0317 support after rejection at resistance and weakening bullish volume ENA consolidates after steep drop, with $0.5170 and $0.4608 as key retracement targets Several high-profile altcoins are now testing crucial support zones after sharp declines over the past 24 hours. According to analyst Altcoin Sherpa, popular tokens like BONK, PENGU, and ENA are likely to revisit deeper Fibonacci retracement l...
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