BONK could crash 25% as support breaks – Here’s why – BitRss

• BONK has breached a year-long support level, heading toward an all-time low in the market.
• OI-Weighted Sentiment and Relative Strength Index (RSI) showed a fractal pattern that could intensify BONK’s fall.

Bonk [BONK] holders have yet to catch a break from the declining market activity.

In the past four weeks, it recorded a steep loss of 56.44% and has continued falling, losing another 14.25% in the past 24 hours as the broader cryptocurrency market crashes.

Analysis of BONK by AMBCrypto showed that the fall could gain more momentum and form an all-time low, particularly as a bearish fractal pattern surfaces.

A 25% fall on the horizon as support fails

BONK has breached its year-long consolidation channel, which began in December 2023. A consolidation channel involves price trading between defined support and resistance levels.

The breach has led to a breakdown from the current support level at 0.00001531. It was heading for the all-time low at 0.00000933 at press time—a 25.41% decline from its prevailing price level.