Key Takeaways
- BONK has formed a bottom near $0.000022 and a breakout from a falling wedge.
- The MACD flipped positive from oversold territory, while BONK tests the 20-day EMA.
- If the rally holds, BONK could retest $0.000028 or $0.000034, with a stronger bullish case.
Bonk (BONK), the Solana-based meme token, is showing signs of a potential rebound after suffering a 60% correction from its all-time high. Despite the heavy decline, fresh bullish signals are emerging on the charts, suggesting that BONK’s price could be preparing to claw back a portion of its losses.
Here are all the details.
BONK Price Finds the Bottom
After weeks of decline, BONK has formed a bullish reversal pattern near the $0.000022 support zone. This level has acted as a strong demand area, with buyers consistently stepping in to absorb selling pressure.
More importantly, the token has recently carved out a double-bottom formation, a setup that precedes upward breakouts.
From the 4-hour chart below, if buying pressure increases, BONK’s price is likely to break above the resistance line above.
The Moving Average Convergence Divergence (MACD) has also turned higher from oversold territory, signaling that bearish momentum is weakening. As seen below, the MACD reading is no longer in the negative zone.
Instead, it has climbed above the zero line. If sustained, this could drive the memecoin’s value higher, with $0.000027 in sight.
Meanwhile, BONK is testing its 20-day Exponential Moving Average (EMA). A successful close above this barrier could open the way for further recovery, with the next upside target closing in on $0.000030.
Still Has Eyes on It
Investor sentiment around memecoins has been volatile, but BONK’s resilience has kept it in the spotlight. Trading volumes have started to tick higher, an early indication that sidelined buyers are returning.
In addition, broader market stability, led by Bitcoin’s attempt to consolidate recent gains, has helped BONK’s price stabilize after its sharp decline.
Social media chatter around BONK remains vibrant, reinforcing community-driven interest that fuels meme token rallies. However, it is still not a sign that the cryptocurrency will quickly reach its all-time high.
What Comes Next for BONK
Looking at the daily chart, BONK’s price has broken above the upper trendline of a falling wedge, a bullish reversal pattern that often precedes upward momentum.
Adding weight to the move, the Chaikin Money Flow (CMF) has climbed above the zero line, showing that buying pressure is starting to outweigh selling.
If the breakout holds, BONK could rally toward $0.000028 and potentially $0.000034, reclaiming a meaningful portion of its prior 60% decline. In a stronger bullish scenario, BONK’s price might even push to $0.000041.
However, the outlook comes with risk. If BONK fails to hold support at $0.000020, the token could slip back to $0.000016, invalidating the bullish setup and confirming that sellers remain in control.
In the meantime, BONK’s price action suggests the worst of its 60% slump may be behind it. With renewed buying interest, the token appears ready for a prolonged rally, which might only be invalidated by worse market conditions.
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
