BONK declines 30% as profit-taking intensifies – Key levels to watch for bulls

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AMBCrypto 11h ago

BONK declines 30% as profit-taking intensifies – Key levels to watch for bulls - AMBCrypto

Quick Summary:

Whales were net negative on Binance exchange after clearing their long BONK positions and taking profit.

The latter also coincided with the 50-day SMA (Simple Moving Average), suggesting it could be stronger support if the pullback dropped below $0.000039.

That said, the uptrend left key price imbalances at two white zones (fair value gaps FVG).