BONK price has recently broken out from a descending wedge pattern, indicating a bullish trend. This pattern is often associated with potential price surges, suggesting BONK could rally by 92%.
Market sentiment around BONK is positive, as indicated by a 24% increase in Open Interest, reaching $10.19 million. This jump in interest reflects traders’ optimism and preparation for a rally.
Technical indicators, including the MACD, support this bullish trend. The broader meme coin market is also booming, giving BONK a potential boost.
For BONK to reach its target of $0.00004352, it must first overcome resistance at $0.00002748 and establish it as a support level. Success here would indicate a multi-month high, paving the way for further gains.
However, failure to break past $0.00002748 would likely result in consolidation, with significant support at $0.00002153, potentially invalidating the bullish trend and leading to sideways movement.
