BONK Price Revisits Prior High After 15% Rise — More Upside Potential Ahead

Key Takeaways

• BONK completed a falling wedge breakout with bullish confirmation.
• Daily RSI is overbought, but momentum remains strong.
• Wave (v) targets align between $0.00002300 and $0.00002650.

Bonk (BONK) has recently shown a strong recovery after completing a prolonged corrective structure.

Following a breakout from a descending channel, the price has started a new bullish impulsive wave sequence, supported by increased volume and positive momentum indicators.

Short-term setups point toward further upside continuation, but key resistances are approaching.

BONK Price Analysis

BONK completed a W-X-Y-X-Z corrective structure within a falling wedge, finding a major bottom around the $0.00000900 zone.

After the breakout from the wedge in early April, BONK quickly reclaimed the $0.00001500 area and rallied toward the critical resistance at $0.00002044.

The daily Relative Strength Index (RSI) is entering overbought territory, signaling strong momentum and potentially cooling in the near term.

The breakout confirms a trend reversal, transitioning BONK from a prolonged bear phase into a new bullish cycle.

The price has cleanly retested previous resistance zones and flipped them into support, strengthening the bullish outlook.

However, approaching overhead resistance at $0.00002044–$0.00002100 may lead to temporary consolidation before further continuation.

If BONK sustains above the $0.00002044 breakout level with strong volume, the next major resistance zone is near the November high around $0.00005903.

Failure to hold $0.00002044 could lead to a retest of the $0.00001500–$0.00001700 support band.

BONK Price Prediction

On the 1-hour chart, BONK is unfolding a clear five-wave impulsive Elliott structure. The third wave (iii) extended sharply, and the recent correction into wave (iv) appears complete.

The price is now progressing within the early stages of wave (v).

Measured moves and Fibonacci extensions suggest wave (v) could target around the 0.618–1 Fib extension zones, setting targets between $0.00002306 and $0.00002665.

Immediate micro-resistance is at $0.00002195 (0.5 Fib), while higher targets align with $0.00002306 (0.618 Fib) and $0.00002665 (1.0 Fib extension).

A rejection from $0.00002195 could cause a minor retracement toward $0.00001946 (0.236 Fib support) or even the $0.00001868 zone, offering potential entries for bullish continuation setups.

However, a breakdown below $0.00001724 would invalidate the immediate bullish scenario and imply a deeper pullback.

Short-term momentum remains strong, but the RSI on lower time frames is nearing overbought conditions, which may temporarily slow the ascent.

A strong hourly close above $0.00002195 would further validate the wave (v) expansion toward $0.00002600.

Key Levels to Watch

• Major Support: $0.00001724 (prior breakout base), $0.00001508 (Fib cluster).
• Immediate Resistance: $0.00002195 (0.5 Fib), $0.00002306 (0.618 Fib), $0.00002665 (1.0 Fib extension).
• Breakout Confirmation: Strong move above $0.00002195 with rising volume.
• Invalidation Level: Drop below $0.00001724 would invalidate the bullish impulse.
• Fractal Watch Zone: $0.00002300–$0.00002650 as potential wave (v) top zone.