The Trust Layer for Market Analysts

The 4-hour chart for BONKUSD indicates a potential upward trend. After a prolonged period of correction that lasted over a year, the asset experienced a flash crash around October 13th. The current analysis suggests that the price may have found a bottom and is now entering a recovery phase. The identified support levels and resistance lines, along with Fibonacci retracements, indicate that a move upwards is plausible. If the price successfully breaks through the trendline and continues to show strength in the support zones, it could signal the start of a new upward trend, possibly with a target around 0.000023. However, failure to hold above the support levels could lead to further downside.