BONK | Time for a Pullback

BONK is showing signs of exhaustion after its recent breakout above the descending trendline. The price has reached a key resistance zone around 0.00002854, which aligns with previous highs from earlier in the year.

Key Technical Signals:
RSI approaching overbought levels near 80
Price struggling at major resistance confluence
Volume appears to be declining on recent advances
Long-term descending trendline now acting as potential support

Pullback Scenario:
The most likely correction target would be the green support zone around 0.00002000-0.00002100, which represents:
Previous resistance turned support
50% retracement level
Confluence with broken trendline

Risk Considerations:
Crypto markets can remain overbought longer than expected
Strong momentum could push price to next resistance at 0.00003986
A break below 0.00001717 would invalidate the bullish structure

The setup favors a healthy pullback before any continuation higher, making this an ideal zone to wait for better entry opportunities.