- Triple Bottom Pattern Suggests a potential long-term trend reversal after extended downside pressure.
- Bullish Breakout Price breaks key descending resistance and retests support, reinforcing bullish sentiment.
- Strong Market Activity 37.21% volume surge and $1.33B market cap signal renewed investor confidence in BONK.
BONK, the meme-fueled cryptocurrency that’s captured the attention of traders worldwide, is making waves once again as technical signals and market momentum align in its favor. After months of decline and consolidation, BONK has bounced back with bullish vigor, showing strong price action, rising trading volume, and a key chart breakout that has analysts and investors eyeing a potential trend reversal. With a classic triple bottom formation and renewed investor interest, the stage may be set for this crypto to reclaim higher levels in the coming weeks.
According to Kadense Pengu, it appears to be forming a classic triple bottom pattern on the daily chart, signaling a potential trend reversal after months of downward pressure. The asset recently broke above a long-standing descending resistance line, retesting key support around $0.00001526, which has historically served as a strong accumulation zone. With the breakout confirming above this multi-month consolidation range and bullish structure forming, traders may interpret this as a positive sign for upward continuation, especially if it maintains levels above the $0.00001655 region. The market now eyes the $0.00002000 zone as the next major resistance level.
Source: X
Current Bonk (BONK) Price
In the latest market movement, BONK (BONK), currently ranked 57 on CoinMarketCap, witnessed a 4.64% price increase over the past 24 hours, bringing its value to $0.0000169.The market price increased by 37.10% due to rising trading volume which achieved $173.1 million as investors reentered the market with renewed interest.
BONK (BONK) maintains a current market valuation of $1.33 billion because of its 4.21% daily market increase. Among its investor metrics the cryptocurrency has 79 trillion circulating tokens from an overall total of 88.82 trillion resulting in a fully diluted valuation (FDV) worth $1.49 billion.It demonstrated strong price fluctuations during the day going from $0.00001607 to reach $0.0000175 before settling at that level.BONK demonstrates its position as one of the most tradeable assets among meme-based cryptocurrencies as its Vol/Mkt Cap ratio remains at 12.98%.
Source: CoinMarketCap
RSI, MACD Indicate Potential for Continued Upside
The current Relative Strength Index (RSI) maintains a neutral position at 54.76 after the market had briefly reached overbought levels, while the MACD indicator demonstrates bullish tendencies but its MACD line (0.00000139), approaches the signal line (0.00000158). The market shows signs that traders are actively observing a definite price shift as their technical indicators signal changes in market momentum.
Source: TradingView
