BONK Targets 100% Rally After Neckline Retest Begins

TL;DR

• BONK retests neckline support after breakout, holding near flag resistance and possible breakout zone.
• Open Interest drops from $73M to $29M, showing traders remain cautious despite a bullish setup.
• Price trades above 200-day average as RSI stays neutral, signaling balanced momentum on the chart.

Breakout Retest at Neckline Level

Bonk (BONK) is trading near a key technical level after completing an inverse head and shoulders pattern on the daily chart. The neckline of the pattern, located around $0.00002, was broken earlier this month. The token is now retesting this level, which may act as support if buyers step in.