$BONK is currently trading around 0.00001071 USDT, showing a −2.10% move in the last 24 hours. After a strong upside push from 0.00001031 to the local high near 0.00001079, price failed to continue higher and is now rolling over with weak follow-through.
On the 1H timeframe, the structure shows loss of momentum, lower highs, and increasing bearish candles, suggesting the recent move may have been a bull trap and downside pressure is starting to build.
Market Structure Overview
Major Resistance Zone: 0.00001078 – 0.00001085
Current Supply Area: 0.00001070 – 0.00001075
Immediate Support: 0.00001060
Next Support Zones: 0.00001045 → 0.00001030
This looks like a failed continuation after a rally, which often leads to a deeper corrective move if support breaks.
Trade Setup (Bearish / Short Bias)
Entry Zone:
• 0.00001070 – 0.00001078 (sell on pullbacks into resistance)
Target 1:
• 0.00001060 (minor support)
Target 2:
• 0.00001045 (previous demand zone)
Target 3:
• 0.00001030 – 0.00001010 (extension if selling accelerates)
Stop Loss:
• 0.00001090 (above rejection high and structure invalidation)
Breakdown Scenario
A strong 1H close below 0.00001060 with rising volume would confirm bearish continuation and open the path toward 0.00001045 and lower. A sustained reclaim above 0.00001085 would invalidate the bearish setup and shift momentum back to the upside.
Summary
Short-term bias: Bearish
Structure: Rejection + lower highs
Momentum: Selling pressure increasing
Key level to watch: 0.00001060
Risk clearly defined above 0.00001090
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