Key Insights
- With a major shift in the crypto market, BONK crypto has finally ended its prolonged bearish trend.
- BONK crypto has broken out from a descending channel pattern and further closes a daily candle above the 50 EMA, signaling a potential rally ahead.
- The expert made a bold prediction that BONK crypto could soar by at least 100%-130% in the coming days.
BONK crypto, the popular Solana-based meme coin, has finally ended its prolonged bearish trend with an impressive performance over the past 24 hours. This occurred following a shift in overall market sentiment and significant gains in top cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), during the same period.
Expert’s Bold Prediction For BONK Crypto
This shift in market sentiment has garnered massive attention from crypto enthusiasts, as several optimistic posts and bold predictions have surfaced on X (formerly Twitter).
Recently, a crypto expert made a post on X stating, “Really not too sure about ATHs, but pretty confident BONK is going at least 100–130% higher.”
This post spread like wildfire and gained massive attention from crypto enthusiasts. In less than six hours, it received nearly 50,000 impressions a significant number for a meme coin.
In addition, another well-followed crypto expert shared a post noting that a breakout and retest have already been confirmed in BONK crypto. He further stated that he expects a solid recovery in the coming days.
Besides this, several optimistic posts reflect a similar level of confidence and interest among experts.
BONK Crypto Price and Volume Surge
At press time, BONK crypto is priced at $0.00001725 and has recorded a massive 23% gain in the past 24 hours.
This surge has attracted significant attention from traders and investors, leading to increased market participation. Data from CoinMarketCap reveals that BONK’s trading volume during this period has jumped by 340% to $555 million.
This notable trading volume, along with the price surge, indicates strong upward momentum and explains why interest among experts and analysts is increasing in the token.
The potential reasons behind this massive rally in the meme coin are the shift in market sentiment, a bullish breakout, and the recent price surge in major assets, including Bitcoin (BTC) and Ethereum (ETH).
BONK Crypto Price Action and Key Technical Levels
According to expert technical analysis, BONK crypto appears bullish and is poised for a significant upside rally.
With the recent upward momentum, the meme coin has successfully broken out of a prolonged descending channel pattern and has also closed a daily candle above this bearish pattern, indicating a confirmed breakout.
Based on recent price action and historical patterns, if BONK crypto holds its gains, there is a strong possibility that the meme coin could continue its upward momentum and potentially witness a price surge of over 55%, reaching the next resistance level of $0.000026434 in the near future.
On the other hand, if sentiment shifts and BONK’s upward momentum fails, there is a strong possibility that the meme coin could experience a price reversal.
Key Resistance Level and Rally Scenarios
If BONK sustains its current trajectory, technical resistance lies at $0.000026434. That would mark a 55% gain from current levels.
Failure to hold above the breakout zone, however, may trigger a short-term pullback, especially if broader market momentum weakens.
At the time of writing, BONK trades above the 50-day EMA. The Relative Strength Index (RSI) stands at 59, indicating bullish momentum with room to run before entering overbought territory.
BONK has reclaimed short-term technical support and broken free from its bearish structure. With rising volume, favorable RSI, and growing trader confidence, the meme coin could test higher levels. Still, failure to maintain support above the breakout level would invalidate the bullish setup.
Chandan Gupta is a crypto analyst and senior journalist. With years of experience in crypto trading and market analysis, he simplifies complex concepts of technical and on-chain metrics, making them easy for users to understand and helping them make informed decisions. Additionally, he uncovers real-time actions of whales and insiders that impact overall market sentiment.