BONK has become one of the most dynamic memecoins on the market in recent days — up 10% in the last 24 hours, continuing its strong performance of +37.9% over the past week and nearly +88% in the past month. But now, BONK is approaching a critical resistance zone where the future trend may be decided.
Will bulls take control, or is a bearish correction imminent?
📉 BONK Tests a Key Supply Zone
From a technical standpoint, BONK is currently trading in a supply zone, an area historically associated with trend reversals and price drops.
🔸 Last time BONK entered this zone, it was followed by a six-day decline.
🔸 If history repeats, we may see a market correction soon.
However, if BONK breaks through this resistance, it could signal a bullish breakout with further upside potential.
🎯 Two Key Price Targets in Sight
Analysts have identified two possible bullish targets:
🔹 Short-term target: $0.00003689 – a potential 51% gain
🔹 Long-term target: $0.00006230 – indicating a possible 155% upside
Still, exchange netflow data currently shows more selling activity — with $4 million worth of BONK sold in the last 24 hours alone.
🐂 Bulls Hold Strong – Derivatives Support the Uptrend
Despite the selling pressure, bullish momentum is holding.
📈 The Open Interest Weighted Funding Rate has remained positive for 20 consecutive days, suggesting that market sentiment is still in bullish territory.
📊 The long/short ratio also shows that buyers are dominating, even in this high-resistance zone.
This means that despite heavy selling, BONK’s momentum remains intact thanks to strong derivatives market support.
🔍 Technical Indicators Still Favor Bulls
Two key technical signals are supporting the optimistic outlook:
🔹 Bull Bear Power – with a green histogram, this indicator shows that buyers are currently in control
🔹 Chaikin Money Flow (CMF) – remains above 0.00, indicating positive capital inflows and bullish support
📌 Summary: BONK Walks a Fine Line
BONK is at a critical inflection point. Technical indicators are strong, bullish traders are active, and the coin is holding up well despite sell-offs.
If BONK breaks through the current resistance, it could trigger another rally toward new highs. But failure to do so may result in a short-term pullback.
The market is waiting — and the next decisive move could happen very soon.
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