BONK/USDT Quick 1H Analysis – Potential Rebound or More Downside?
BONK is showing signs of exhaustion after the recent dump, currently trading around $0.000008 with a -4% 24h drop (as of Jan 31, 2026). On the 1H chart, price has broken below the previous low support (~$0.0000082), but we're seeing a classic oversold setup with RSI dipping to ~30–32 and volume drying up on the sell side.
Key technical points:
Support zone — $0.0000078–$0.0000080 (previous swing low + 0.618 Fib retracement). If this holds, expect a relief bounce toward $0.0000085–$0.0000090 (previous resistance + 0.5 Fib).
Resistance — $0.0000088–$0.0000092 (descending trendline + 50 EMA). Break above with volume could trigger short covering and push toward $0.0000100.
Momentum — MACD histogram flattening, possible bullish divergence forming. High short interest + thin liquidity = squeeze setup if buyers step in.
Risk — If $0.0000078 breaks, next target $0.0000070–$0.0000072 (lower channel extension).
This looks like a potential shakeout in the broader meme coin correction (BTC ~$82K–$83K). Oversold conditions often lead to sharp bounces in low-cap memes, but watch BTC stability closely — if BTC holds $82K, BONK could rally fast.
Bullish or bearish here? Planning to dip buy or wait for confirmation? Share your take!
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