Solana’s BONK Targets 77% Corrective Move After Retrace To 200 EMA

Solana-based meme coin **BONK** is showing signs of a potential **77% corrective move** after retracing to its **200-day Exponential Moving Average (EMA)**. Here’s a breakdown of the technical setup: ### **Key Observations:** 1. **200 EMA Retest:** - BONK has pulled back to its **200 EMA**, a key long-term support level often used by traders to identify trend reversals or continuation opportunities. - Historically, strong assets tend to bounce or consolidate at this level before the next major move. 2. **Potential 77% Rally:** - If BONK holds the **200 EMA** as support, technical analysts project a possible **77% upward correction** from current levels. - This would align with a **Fibonacci retracement** or a wave-based recovery (e.g., Elliott Wave corrective wave C). 3. **Bullish Divergence & Momentum Shift:** - The **RSI (Relative Strength Index)** may be showing bullish divergence, indicating weakening selling pressure. - A breakout above key resistance (likely around **$0.000025–$0.000030**) could confirm the uptrend. ### **What’s Next?** - **Bullish Scenario:** A strong bounce from the 200 EMA could propel BONK toward **$0.000035–$0.000040** (77%+ upside). - **Bearish Risk:** If the 200 EMA fails as support, further downside toward **$0.000015–$0.000012** is possible. ### **Conclusion:** BONK is at a **make-or-break level**. If Solana’s ecosystem remains strong and Bitcoin stabilizes, the meme coin could see a sharp rebound. Traders should watch for **confirmation of a breakout** with increasing volume. Would you like a deeper analysis on specific indicators or price targets? 🚀