- BONK gained 53.8% this week with daily volume hitting $1.16 billion and strong interest from traders.
- Breakout confirmed as price moves above wedge resistance with increasing bullish volume.
- Price targets were set at $0.0000255, $0.0000371, and $0.0000592 after technical breakout and rising momentum.
Bonk is trading at $0.000022 and has experienced a small rise of 2.63% in the last 24 hours. The volume of trading during the same period is pegged at $1.16 billion, representing an increase of 10.93%. In the past week, the coin has gained 53.8%.
Source: CoinMarketCap
Jonathan Carter highlighted that BONK has soared beyond the resistance of the broadening wedge on the daily chart. The pattern is usually an indication of a trend reversal. The break occurrence took place on an upward volume, which adds strength to the break. The new price targets are $0.0000255, $0.0000371, and $0.0000592.
Source: X
Indicators Support Uptrend
The Relative Strength Index (RSI) has increased to 74.53. With this reading, the BONK is overbought. An RSI of over 70 is a sign of a strong bullish trend. It also implies that the buyer is in control. Despite resulting in the correction in the short term, this level normally validates the strength of the trend at breakouts.
Moving Average Convergence Divergence (MACD) also backs additional rise. The MACD line reads 0.000000117, and the signal line has a reading of 0.000000108. This bullish convergence is a bullish indicator. The histogram bars are growing, demonstrating the growing momentum. The signals are pointing to further upside in the near term.
Source: TradingView
Also Read: BONK Breaks Out, Eyes $0.000025 Target Amid ETF and Burn Hype
According to CoinGlass data, the growth in volume is 62.47%, reaching the reach of $820.18 million. The Open Interest rose 6.86% to $50.57 million. This is a sign of increased optimism among futures traders. The OI weighted funding rate is at 0.0049%, indicating a bullish bias as well.
Source: CoinGlass
BONK Breakout Confirmed
FOUR Crypto Spaces revealed that BONK has established a breakout, finally breaking its downward trend since November 2024. In the past five days, the coin has increased by more than 60%, taking on additional gains by early investors, trading at a high of $0.00002180 after touching a five-day low of $0.00001300.
Source: X
The momentum is gathering. The correlation between price and volume, and indicators is good. The token may start price discovery in case it breaches the following resistance levels. The traders are waiting to see whether the trend will continue. Meme coins are also gaining traction once more, and BONK is at the front.
Also Read: BONK-Powered LetsBONK Beats Pump.fun in Token Launch Surge
