BONK rally only a blip in a longer-term downtrend<\/strong><\/h2>\n![\"BONK](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/BONK-1-day-Chart.png\")
<\/a>Source: BONK\/USDT on TradingView<\/figcaption><\/figure>\nAs covered earlier, the bullish structure break in early January came when the downtrend’s swing point at $0.0000103 was breached. Subsequently, Bonk [BONK]<\/a> rallied to $0.0000134 but fell back over the rest of the month.<\/p>\nBitcoin’s [BTC]<\/a> inability to stay above $94.5k over the past two weeks highlighted bearish pressure in the market, and BONK faced sizeable selling pressure. As a result, the OBV fell below December’s low, keeping the OBV’s downtrend since August ongoing.<\/p>\nThe path ahead for BONK<\/h2>\n![\"BONK](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/BONK-Liquidation-Heatmap.png\")
<\/a>Source: CoinGlass<\/a><\/figcaption><\/figure>\nThe cluster of liquidations around $0.0000074 has been swept. To the north, the next interesting magnetic zones were at $0.0000090 and $0.0000095.<\/p>\n
The memecoin may see a price bounce to this liquidity pocket.<\/p>\n
However, as things stand, it is unlikely the bounce would extend that high.<\/p>\n
Traders’ call to action – Expect a short-term bounce and a reversal<\/strong><\/h2>\n![\"BONK](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/BONK-1-hour-Chart.png\")
<\/a>Source: BONK\/USDT on TradingView<\/figcaption><\/figure>\nThe 1-hour price chart presented a bearish setup for traders. Based on the most recent impulse move on this timeframe, the $0.00000755-$0.00000785 levels were key Fibonacci retracement levels.<\/p>\n
BONK would likely bounce to test these resistance levels before continuing its bearish move.<\/p>\n
Traders can use this bounce to sell. The downward move would target the $0.0000064 local low, and could slide further to $0.0000060 and $0.0000053.<\/p>\n
\nFinal Thoughts<\/h2>\n\n- The Bonk breakout in early January was promising, but it did not go as the bulls expected it to.<\/em><\/li>\n
- A short-term price bounce followed by a bearish reversal is expected in the first week of February.<\/em><\/li>\n<\/ul>\n
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"BONK resumes long-term downtrend after failing to hold key support levels as the memecoin sector takes a big hit over the past week.<\/p>\n","protected":false},"author":57,"featured_media":566705,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[41,6389,18,5824,66,3,23,4,20],"tags":[],"class_list":["post-566664","post","type-post","status-publish","format-standard","has-post-thumbnail","category-analysis","category-bonk-coin-news","category-hide-cryptopanic","category-memecoins","category-new-news","category-news","category-no-home","category-social","category-trading-view"],"acf":[],"yoast_head":"\n
BONK drops 18% as memecoins slide \u2013 Is another leg down coming? - AMBCrypto<\/title>\n<meta name=\"description\" content=\"BONK has a bearish long-term trend after the failed structure shift in early January, and traders should watch out for a minor price bounce.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/bonk-drops-18-as-memecoins-slide-is-another-leg-down-coming\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BONK drops 18% as memecoins slide \u2013 Is another leg down coming? - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"BONK resumes long-term downtrend after failing to hold key support levels as the memecoin sector takes a big hit over the past week.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ambcrypto.com\/bonk-drops-18-as-memecoins-slide-is-another-leg-down-coming\/\" \/>\n<meta property=\"og:site_name\" content=\"AMBCrypto\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/cryptoamb\" \/>\n<meta property=\"article:published_time\" content=\"2026-02-02T01:00:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/BONK-Featured.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Akashnath S\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/SAkashnath\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoAmb\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Akashnath S\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"AnalysisNewsArticle\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/bonk-drops-18-as-memecoins-slide-is-another-leg-down-coming\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/bonk-drops-18-as-memecoins-slide-is-another-leg-down-coming\\\/\"},\"author\":{\"name\":\"Akashnath S\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/person\\\/26fe78e2620b888b1067a93dec3b5599\"},\"headline\":\"BONK drops 18% as memecoins slide \u2013 Is another leg down coming?\",\"datePublished\":\"2026-02-02T01:00:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/bonk-drops-18-as-memecoins-slide-is-another-leg-down-coming\\\/\"},\"wordCount\":382,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/bonk-drops-18-as-memecoins-slide-is-another-leg-down-coming\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/ambcrypto.com\\\/wp-content\\\/uploads\\\/2026\\\/02\\\/BONK-Featured.webp\",\"articleSection\":[\"Analysis\",\"Bonk\",\"HideCryptopanic\",\"Memecoins\",\"News\",\"News 1\",\"No Homepage\",\"Social\",\"Trading View\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/ambcrypto.com\\\/bonk-drops-18-as-memecoins-slide-is-another-leg-down-coming\\\/#respond\"]}],\"copyrightYear\":\"2026\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/bonk-drops-18-as-memecoins-slide-is-another-leg-down-coming\\\/\",\"url\":\"https:\\\/\\\/ambcrypto.com\\\/bonk-drops-18-as-memecoins-slide-is-another-leg-down-coming\\\/\",\"name\":\"BONK drops 18% as memecoins slide \u2013 Is another leg down coming? 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<\/a>As covered earlier, the bullish structure break in early January came when the downtrend’s swing point at $0.0000103 was breached. Subsequently, Bonk [BONK]<\/a> rallied to $0.0000134 but fell back over the rest of the month.<\/p>\n Bitcoin’s [BTC]<\/a> inability to stay above $94.5k over the past two weeks highlighted bearish pressure in the market, and BONK faced sizeable selling pressure. As a result, the OBV fell below December’s low, keeping the OBV’s downtrend since August ongoing.<\/p>\n The cluster of liquidations around $0.0000074 has been swept. To the north, the next interesting magnetic zones were at $0.0000090 and $0.0000095.<\/p>\n The memecoin may see a price bounce to this liquidity pocket.<\/p>\n However, as things stand, it is unlikely the bounce would extend that high.<\/p>\n The 1-hour price chart presented a bearish setup for traders. Based on the most recent impulse move on this timeframe, the $0.00000755-$0.00000785 levels were key Fibonacci retracement levels.<\/p>\n BONK would likely bounce to test these resistance levels before continuing its bearish move.<\/p>\n Traders can use this bounce to sell. The downward move would target the $0.0000064 local low, and could slide further to $0.0000060 and $0.0000053.<\/p>\n Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" BONK resumes long-term downtrend after failing to hold key support levels as the memecoin sector takes a big hit over the past week.<\/p>\n","protected":false},"author":57,"featured_media":566705,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[41,6389,18,5824,66,3,23,4,20],"tags":[],"class_list":["post-566664","post","type-post","status-publish","format-standard","has-post-thumbnail","category-analysis","category-bonk-coin-news","category-hide-cryptopanic","category-memecoins","category-new-news","category-news","category-no-home","category-social","category-trading-view"],"acf":[],"yoast_head":"\nThe path ahead for BONK<\/h2>\n
<\/a>Traders’ call to action – Expect a short-term bounce and a reversal<\/strong><\/h2>\n
<\/a>
\nFinal Thoughts<\/h2>\n
\n