Technical analysis by 3Commas about Symbol BONK: Buy recommendation (9/30/2024)

Technical Analysis:1. Price Structure and Key Levels:Break of Bearish Trendline: The price of BONK/USDT has broken a descending trendline, indicating a potential shift in momentum towards a bullish bias.Resistance at 2324: The price is currently testing this key resistance level. A successful breakout and hold above it would signal a strong bullish continuation.Immediate Support at 1617: If the price fails to sustain the breakout above 2324, it may pull back to the immediate support at 1617, providing an opportunity for accumulation.Next Major Resistance at 3389: Should the price break and hold above the 2324level, the next target would be the 3389 resistance, based on historical price action.2. Multi-Timeframe Analysis:Trend Bullish (1h, 4h, 1D, 1W): The overall trend has shifted to bullish across multiple timeframes, suggesting a strong upward momentum.Ribbon Bullish (1h, 4h, 1D): The Ribbon is showing bullish signals, confirming support for the trend, with price currently trading above it, suggesting strength in the current move.Conclusion:BONK/USDT is currently showing a strong bullish bias after breaking a bearish trendline. The key resistance to watch is 2324, and a breakout above this level would confirm the bullish continuation. However, if the price retraces, 1617 remains a solid support for accumulation.👨🏻‍💻💭 What’s your plan for BONK/USDT? Let’s discuss if this meme coin can take off to new highs!_________________________________________________________________ The information and publications within the 3Commas TradingView account are not meant to be and do not constitute financial, investment, trading, or other types of advice or recommendations supplied or endorsed by 3Commas and any of the parties acting on behalf of 3Commas, including its employees, contractors, ambassadors, etc.