- BONK surges 25% weekly, driven by Bitcoin’s rally and renewed market optimism.
- A breakout above the descending trendline signals a potential sustained uptrend.
- Key resistance at $0.0000158–$0.0000225 must be cleared for further gains.
- Market depth shows only two major sell walls before the next bullish move.
BONK is riding the bullish wave, mirroring the broader crypto market’s resurgence. Over the past week, the popular Solana-based memecoin has surged 25%, fueled by Bitcoin’s rally, which has reignited optimism across the altcoin and memecoin sectors. With Bitcoin reclaiming key levels, traders are increasingly shifting focus toward high-potential assets like BONK, driving its price upward.
At the time of writing, the memecoin is trading at $0.00001410, boasting a 24-hour trading volume of $240.34 million and a market cap of $1.10 billion. In the last 24 hours alone, BONK has gained 13%, reinforcing its strong bullish momentum and hinting at further upside potential.
BONK Technical Breakout Signals More Upside
From a technical standpoint, the meme coin has broken above its descending trendline, a key indicator of a potential sustained uptrend. However, the next major test lies ahead, as resistance is observed between $0.0000158 and $0.0000225. A decisive breakout above this zone would confirm a local bottom for wave-(iv) and open the door for further gains.
Market depth analysis reveals that only two major sell walls stand in the way of BONK’s next leg up. Once these barriers are breached, the path becomes clear for a strong bullish run, with little resistance in sight.
BONK’s breakout from consolidation suggests further upside, with key resistance at $0.0000158. Indicators like the Relative Strength Index (RSI) and MACD support continued bullish momentum.
With market sentiment shifting in favor of bulls, the meme coin is well-positioned for further gains. However, breaking through resistance will be crucial in confirming the next leg of this rally.
The broader market conditions remain a key factor in BONK’s trajectory. As Bitcoin continues to gain strength, altcoins and meme coins are benefiting from renewed investor confidence. If BTC maintains its uptrend, the meme coin could see further upside in the coming weeks.
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