Technical analysis by Supachai-Taechapisit about Symbol BONK: Buy recommendation (1/17/2025)

1. Price Action- The asset is currently trading at 0.00003017 USDT- Clear descending channel formation (marked by yellow lines) from early January to mid-January 2025- Recent breakout attempt from the upper boundary of the descending channel2. Trend Analysis- Overall downtrend since early January- Formation of higher lows in recent trading sessions- Possible trend reversal signal with the channel breakoutHere's a concise analysis of the BONK/USDT 4H chart:Technical Setup:- Price breaking out of descending channel (yellow lines)- Current price: 0.00003017 USDT- Clear bottom formation with higher lowsPotential Targets:1. 0.0000352. 0.0000403. 0.000045Key Levels:- Support: 0.000025- Breakout: 0.000030- Stop Loss: Below 0.000024Trend shows bullish reversal potential with a projected upward wave pattern. Watch volume for confirmation.Risk Management Note:Always use proper position sizing and consider the volatile nature of this asset. The projected path (green waves) represents a possible scenario but markets can behave unpredictably.