BONK remains in a strong bullish trend despite a recent correction, with price now rebounding off key technical support. A breakout could lead to a sharp 77% upside move.
BONK (BONK) continues to show signs of strength, even after a recent rejection at a key resistance level. The cryptocurrency is currently holding a major area of technical support, setting the stage for another potential leg higher. With buyers stepping in at the right moment, the bullish market structure remains intact—offering traders an optimistic outlook heading into the week.
Key technical points
- Support Zone: 200MA + Daily Support + 0.618 Fibonacci
- Resistance: Point of Control (POC)
- Market Structure: Higher highs and higher lows confirmed
BONK’s current price action reflects a textbook bullish trend, marked by a series of consistent higher highs and higher lows. After hitting resistance at the point of control, a zone with heavy historical volume—price rotated back down into a strong area of confluence support. This zone includes the 200-day moving average, daily support, and the 0.618 Fibonacci retracement level, all aligning to provide a solid base.
Price is now stabilizing in a low-timeframe range, a common structure that often forms before a bullish continuation. This behavior suggests that buyers are defending this level, and demand is beginning to outweigh supply once again.
Volume analysis also reinforces this bullish bias. Each price rally has shown strong volume inflows, indicating that interest and momentum are still favoring the bulls. As long as BONK continues to form higher lows, the next target sits above the POC resistance. A successful breakout above this zone could quickly open the door to a 77% move to the upside.
Another important factor supporting the bullish outlook is the current behavior of market participants at support levels. Despite recent volatility, the buying pressure seen at each dip indicates strong investor confidence and willingness to accumulate at lower levels.
This type of consistent demand is often a hallmark of trending markets, where temporary pullbacks are met with aggressive buying. If this pattern continues, BONK is likely to maintain its upward momentum, building the foundation for another breakout as market conditions stabilize.
What to expect in the coming price action
If BONK continues to hold the current support level and breaks above the point of control resistance, a new rally toward higher resistance zones is likely. Bulls remain firmly in control.
