- Support under pressure:Â BONK has temporarily found support at $0.000018 after a steep 45% decline, but without strong buying pressure, this level may not hold for long.
- Bearish indicators:Â Momentum remains negative as the MACD histogram deepens, and price action is trapped beneath both the 50-day and 200-day SMAs, signaling continued downside risk.
- Potential relief rally:Â If buyers defend the $0.000017 support and push the price above $0.000026, BONK could stage a recovery, but market sentiment remains fragile with further declines still possible.
BONK’s price found some footing at $0.000018 on Wednesday—a much-needed breather—after tumbling headfirst for two weeks straight. The memecoin, built on Solana, has been battered as crypto markets grapple with the fallout from escalating U.S.-China trade tensions. With the memecoin sector sinking another 11.4% on Monday, things are, well, looking rough. BONK’s temporary support level might offer some relief, but let’s be real: its durability remains a pretty big question mark.
BONK Finds Fragile Support at $0.000018 After Brutal 45% Drop
After crashing a jaw-dropping 45% over the last two weeks, BONK’s price has stabilized—if you can call it that—around $0.000018. For now, the relentless sell-off has paused, though market sentiment is still shaky. Looking at recent charts, the price’s plunge mirrors a wider risk-off mood that’s hit the entire memecoin market. Investors, it seems, are steering clear of speculative assets while macroeconomic concerns loom large.
The price action tells a clear story: after a late-January peak above $0.000032, BONK’s every attempt to claw back gains has been met with aggressive selling. The result? A steep, painful downward trajectory.
Support at $0.000018 could offer a temporary lifeline, but it’s far from rock-solid. Without fresh buying pressure to break the bearish cycle, BONK may be headed for further declines. Trading volumes have remained high, signaling a market stuck in indecision. In other words, bulls and bears are locked in a standoff.
Memecoins on the Edge: More Downside Pressure Expected
The entire Solana memecoin sector has been in freefall, with Monday’s decline of 11.4% just adding to a month-long bearish spiral. This isn’t just a BONK issue—memecoins across the board are feeling the heat as risk aversion sweeps through digital assets. Sentiment is fragile. Speculative interest? Practically in hibernation.
BONK has eked out a tiny 0.1% increase in the past 24 hours, but let’s not get too excited. The token is still teetering on the edge of further losses. With the memecoin ecosystem struggling to find a floor, renewed selling pressure seems all too likely. This recent lull in BONK’s decline doesn’t look like a trend reversal—at least not yet. The bears are still very much in control, and the broader market sentiment isn’t helping.
Investors appear reluctant to re-enter positions while turbulence dominates. Until a wider recovery emerges, memecoins like BONK remain vulnerable to further sell-offs. If bearish momentum persists, that $0.000018 support might not hold for long.
BONK Price Forecast: Bulls Need to Defend $0.000017
Looking ahead, the forecast for BONK isn’t exactly rosy. The token is currently hovering around $0.000018, teetering on a knife’s edge after a punishing 45% drop over the past 14 days. The daily chart paints a grim picture, with price action trapped well below both the 50-day and 200-day simple moving averages (SMAs). The 50-day SMA is sitting at $0.00002689, while the 200-day rests at $0.00002914. Repeated rejections at these levels suggest that bearish forces still have a firm grip on the market.
If BONK breaks below $0.000017, things could get even uglier. We’re talking a potential slide toward $0.000015 territory.
Momentum Indicators: Bears Still in Charge
Unfortunately for bulls, momentum indicators aren’t offering much hope. The MACD histogram has dipped further into negative territory, while the MACD line is still far below its signal line—clear signs of mounting selling pressure. Without a bullish divergence to flip the narrative, BONK’s downward trend could keep going.
However, not all hope is lost. If buyers manage to defend the $0.000017 support level and push the price back toward the 50-day SMA, we might see a relief rally. A decisive close above $0.000026 would be a game-changer, invalidating the bearish outlook and shifting momentum in favor of bulls. Until that happens, though, bears are running the show.
So, for now, it’s a waiting game. Will bulls muster the strength to turn things around? Or is BONK destined for another painful leg down? We’ll find out soon enough.
