BONK Rebound is in jeopardy? technical indicator confirms weakness

Due to the technical indicator showing intensified market weakness, BONK faces increasing bearish pressure. After a brief attempt at stabilization, the Token seems to have lost momentum, dropping once again to test 0.00004002 US dollars, with key indicators pointing to further decline. As BONK deals with these challenges, speculation arises on whether this meme Token can regain its footing or inevitably experience a larger decline.
On the 4-hour chart, BONK has shown bearish sentiment, trading below the 100-day Simple Moving Average (SMA) and trending towards the support level at 0.00004002 USD. Continuously falling to this support level indicates intensifying dumping pressure, and if the support level cannot hold, the asset may further fall.
In addition, the analysis of the 4-hour chart shows that the relative strength index (RSI) has fallen to the level of 44%, after attempting a Rebound, reaching a high of 49%, and then weakening. The RSI is falling, especially when it is still below the neutral 50% level, indicating that the fall momentum is strengthening. If the RSI continues to fall, it may further confirm the downward trend, with increasing dumping pressure, which may lead to a further significant fall in prices.
On the daily chart, the meme coin shows a clear downward trend, and after a failed Rebound attempt, a bearish candle with a strong rejection line appears, highlighting this. The inability to maintain an upward trend indicates a lack of buyer confidence and a generally negative sentiment in the market. As BONK targets the support level at 0.00004002 USD, selling pressure may intensify, raising concerns about the possibility of a crash.
Finally, the 1-day RSI shows that the negative pressure on Crypto Assets is increasing, and the signal line has dropped sharply from the Overbought zone to 56%. This decline marks a change in momentum, indicating that buying power is weakening, dumping pressure is rising. If the RSI continues to fall, it may signal continued bearish sentiment and the fall of BONK.
When BONK faces bearish pressure, two scenarios may arise: Rebound or further decline. If the meme coin can hold the key support level of $0.00004002 and attract new buying interest, it may trigger a Rebound, potentially reversing the current downtrend and pushing the price up to the $0.00006247 resistance level and above.
However, if the dumping pressure continues to exist and BONK fails to maintain the support level of 0.00004002 USD, a deeper decline may occur, and the price may fall to lower support areas, including 0.00002962 USD, 0.00002320 USD, and below.
(Data source: Godspower Owie)