Bonk Holds Support After Heavy Selloff — Waiting for Confirmation
I see BONK holding a key support level after a heavy selloff on the Solana meme-token market. The price stabilized near a prior demand zone and selling pressure appears to have eased for now.
I'm cautious: this looks like consolidation rather than a clear reversal. Given low liquidity and meme-driven volatility, I want to see a confirmed higher low or a volume pickup before increasing exposure.
Analysis
Heavy selling pushed BONK into a known demand zone where price consolidated and short-term selling cooled; indicators suggest exhaustion but liquidity and meme-token flows make false breakouts likely.
Recommendation
Watch for confirmation: wait for a daily close above the recent range or a measurable rise in volume before buying. If you enter, keep positions small and use tight risk management.
Disclaimer
The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.