BONK Price Poised for Takeoff as Liquidity Builds Above Key Level

BONK Price Surge Incoming? Bullish Breakout Pattern Sparks Market Hype

BONK Price – BONK (BONK), the Solana-based memecoin, is showing signs of a potential bullish breakout after respecting a rising wedge pattern since March 4. Price action has consistently followed the ascending support trendline, with a notable rebound after reaching a local low of $0.00000884 in early April.

Since that reversal, BONK has steadily climbed, bouncing off support within the wedge multiple times. The most recent bounce has sparked renewed optimism among holders, supported by a 10% intraday gain, according to CoinMarketCap.

Technical Indicators Point Toward Bullish Reversal

Adding to the positive sentiment is the Stochastic RSI, which is currently in the oversold region on the daily chart. This suggests that selling pressure is easing, creating favorable conditions for a trend reversal. If the bullish momentum sustains, BONK could break out of the wedge and target new resistance levels.

The current price compression within the wedge typically precedes a breakout, and BONK’s behavior aligns with classic technical analysis patterns.

On-Chain Metrics Support the Rally Setup

On-chain data also leans in favor of the bulls. Analysis from AMBCrypto using CoinGlass shows that BONK’s Weighted Funding Rates have remained neutral, fluctuating between 0% and 0.02%. This implies a lack of excessive leverage, reducing the risk of sudden liquidations.

Additionally, Liquidation Heatmaps reveal several liquidity clusters above the $0.00002 level—a key psychological resistance. If bulls manage to push BONK beyond this level, a rapid price acceleration could follow.

With strong support, technical reversal signals, and liquidity stacking overhead, BONK appears poised for a bullish breakout, potentially setting the stage for its next major move.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.