Bonk falls 8% in 24 hours: But this price level can prevent a further dip

BONK experienced an 8.67% decline over 24 hours, highlighting bearish market conditions. Currently, prices are approaching a crucial demand zone, which could affect future movements. Should demand levels remain intact, the potential exists for price recovery; otherwise, continued downward trends are likely.

Current indicators suggest that negative market sentiment outweighs any bullish prospects for BONK. With significant liquidations of long positions, market bias leans heavily toward bearishness, emphasizing the importance of demand levels in determining future price movements.