BONK, the trending memecoin, continues to show strength following a massive +140% surge since April. Analysts suggest that if the token holds above its 200-day EMA, it could rally toward $0.000035, signaling a 77% upside from current levels.
🔹 Trend Remains Bullish – As Long as Key Support Holds
BONK continues to respect its ascending price channel, with the 200-day EMA (blue line) acting as a crucial support level. This moving average, which previously acted as resistance in April, now aligns with the lower boundary of the channel, reinforcing its importance.
As long as the price remains above this zone, bulls remain in control. The next upside targets lie at $0.000025 and potentially $0.000035.
🔹 RSI Signals Strength, but Capital Inflows Remain Tepid
The Relative Strength Index (RSI) has remained above 50 since April, indicating continued demand and reinforcing the bullish sentiment.
However, Chaikin Money Flow (CMF) shows stagnation since mid-May — suggesting capital inflows have paused, and new large-scale investments have not yet entered the market.
🔹 Derivatives Market Shows Rising Speculative Interest
Unlike the spot market, which is seeing only modest demand (as indicated by the Cumulative Volume Delta, CVD), the derivatives market is heating up. Open Interest has grown from $8.5M to over $12M, reflecting increased speculative appetite from futures traders.
This could support the bullish case, as traders bet on further upside.
🔹 Key Levels: Watch Liquidity Zones and EMAs
According to liquidation heatmaps, the $0.000018–$0.000020 zone currently holds the highest concentration of liquidity. This aligns with the 200-day and 100-day EMAs, marking it as a crucial area to monitor.
If the price breaks below $0.000018, it could signal a shift toward bearish momentum and trigger short positions. For bullish traders, this level may serve as an ideal stop-loss.
🔹 Summary
🔹 BONK remains in a clear uptrend
🔹 Key support to watch: 200-day EMA
🔹 Next bullish targets: $0.000025 and $0.000035
🔹 Derivatives market signals growing interest
🔹 A drop below $0.000018 could favor bears
#Bonk , #memecoin , #bullish , #CryptoMarket , #CryptoAnalysis
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