BONK Keeps Climbing as Bulls Stay in Control, Though Room to Run Is Tight

Key Takeaways

• BONK is in the final wave V of a bullish impulse.
• RSI divergence warns of an upcoming correction.
• Breakout targets lie between 0.00002585 and 0.00003199.

After completing a prolonged W-X-Y-X-Z correction, BONK has staged an impressive recovery and has resumed a strong impulsive trend.

The structure across the 4-hour and 1-hour charts supports a bullish continuation, though the RSI is flashing early warning signs of a temporary pullback.

The current wave count suggests the token is in the final stages of wave v of a higher-degree impulse, with key Fibonacci targets approaching.

BONK Price Analysis

The 4-hour BONK chart shows a breakout from a large falling wedge structure on April 7, which defined the corrective Z-wave bottom near the $0.00000089–0.00000100 accumulation range.

Since then, BONK has launched into a clean five-wave impulsive structure.

Waves (i) through (iv) are complete, and wave (v) is unfolding with aggressive price action and elevated volume, gaining 56% since May 6.

Current price action is pushing through the $0.00002360 region, already surpassing the local high near $0.00002156, which previously acted as resistance.

However, the Relative Strength Index (RSI) is diverging, as higher highs on the RSI don’t support the price increase.

This bearish divergence may indicate that BONK is entering the late phase of wave v. While price is still supported by bullish structure, a reversal or correction should be expected soon if the divergence plays out.

If confirmed, the pullback could retest prior support levels around $0.00002156 and $0.00001860 (Fib 0.236), offering attractive re-entry zones for continuation traders.

Although early signs of trend exhaustion are seen, the price action still isn’t showing a bearish setup, which is why we could see more upside movement in the short term.

However, considering these early signs, it could remain limited to one more high, potentially around $0.00002585.

BONK Price Prediction

The 1-hour chart provides a clearer picture of the microstructure within wave v, with a visible impulse forming: waves i through iv appear complete, and wave v is currently underway.

This suggests BONK may target the 1.0 Fibonacci extension near $0.00002855, with a possible extension up to 1.272 at $0.00003199.

A retracement after this advance is highly probable.

The correction could unfold as an ABC pattern targeting support at $0.00002223 (0.5 retracement of the v-wave advance), followed by a deeper level at $0.00001889 (0.236 Fib of the entire leg from April).

The prior wave IV zone near $0.00001591 also aligns with structural support and should be monitored if the market corrects more steeply.

Despite the strong bullish structure, short-term caution is warranted.

RSI again displays bearish divergence—wave iii showed a higher peak than the current wave v push. If RSI continues lower while price stalls, a local top will likely form soon.

Should price continue to climb past $0.00002855 without retracing meaningfully, it would indicate a stronger extended wave v, with $0.00003199 becoming a feasible target.

Key Levels to Watch

• Immediate Resistance: $0.00002585 (0.786 extension).
• Wave Target: $0.00002855 (1.0 extension).
• Extended Target: $0.00003199 (1.272 extension).
• Retracement Support: $0.00002223 (wave iv zone).
• Deeper Support: $0.00001889 and $0.00001591.