Recently, the price of BONK has experienced a significant correction, but the market has not completely lost momentum. From the 4-hour time frame, the bulls still maintain a certain level of control, indicating that the upward trend may not be over yet.

However, the technical indicators show some signs of weakness. The momentum indicator MACD has entered the negative value zone, which may indicate that selling pressure is accumulating. At the same time, the Relative Strength Index (RSI) has also slid to around 50, reflecting a weakening of buying power. If selling pressure continues, BONK may face the risk of breaking the key support level of $0.00002358, and there is even a possibility of dipping down to $0.000020.

Despite this, investors still have reason to remain cautiously optimistic. The upcoming CPI inflation data may become a turning point for market sentiment. If the data performs better than expected, it could trigger a wave of market rebound. In this scenario, BONK is expected to quickly rebound to the primary resistance level of $0.00002880, and then have the opportunity to challenge the higher target price of $0.00003280.

Overall, although BONK faces some downward pressure in the short term, changes in the market environment may bring new upward opportunities for it. Investors should closely monitor macroeconomic data and overall market trends in order to seize potential rebound opportunities in a timely manner.