BONK, PENGU, ENA: Price Dips Sharpen Focus on Fibonacci Retracement Targets
- BONK risks deeper correction as it nears confluence zone around 0.5 Fib and 200 EMA
- PENGU eyes $0.0317 support after rejection at resistance and weakening bullish volume
- ENA consolidates after steep drop, with $0.5170 and $0.4608 as key retracement targets
Several high-profile altcoins are now testing crucial support zones after sharp declines over the past 24 hours. According to analyst Altcoin Sherpa, popular tokens like BONK, PENGU, and ENA are likely to revisit deeper Fibonacci retracement levels, which could offer key areas for a potential bounce.
These targets include the 0.382 and 0.5 Fib zones, which often act as strong reversal points during corrective phases. As bearish pressure intensifies, investors are now closely watching these levels.
BONK Struggles to Hold Above Key Support
Bonk (BONK) has seen a notable selloff, breaking below the 0.236 Fibonacci level at $0.00003388. Price is now hovering around $0.00003007, with short-term support found near $0.00003146. This decline represents…
The post BONK, PENGU, ENA: Price Dips Sharpen Focus on Fibonacci Retracement Targets appeared first on Coin Edition.
Read More
Crypto Clarity from Washington Spotlights These 3 Altcoins for Max Gains
BONK, PENGU, ENA: Price Dips Sharpen Focus on Fibonacci Retracement Targets
- BONK risks deeper correction as it nears confluence zone around 0.5 Fib and 200 EMA
- PENGU eyes $0.0317 support after rejection at resistance and weakening bullish volume
- ENA consolidates after steep drop, with $0.5170 and $0.4608 as key retracement targets
Several high-profile altcoins are now testing crucial support zones after sharp declines over the past 24 hours. According to analyst Altcoin Sherpa, popular tokens like BONK, PENGU, and ENA are likely to revisit deeper Fibonacci retracement levels, which could offer key areas for a potential bounce.
These targets include the 0.382 and 0.5 Fib zones, which often act as strong reversal points during corrective phases. As bearish pressure intensifies, investors are now closely watching these levels.
BONK Struggles to Hold Above Key Support
Bonk (BONK) has seen a notable selloff, breaking below the 0.236 Fibonacci level at $0.00003388. Price is now hovering around $0.00003007, with short-term support found near $0.00003146. This decline represents…
The post BONK, PENGU, ENA: Price Dips Sharpen Focus on Fibonacci Retracement Targets appeared first on Coin Edition.
Read More