The 4-hour chart of BONK reveals a classic bullish breakout, supported by volume. The price has surpassed the Fibonacci level of 3.618 at $0.00003894 and is now positioned just below the 4.236 extension at $0.00004190.
Traders are closely monitoring this area, as it marks a typical profit-taking zone, sometimes referred to as the 'golden pocket' for late-stage rallies.
Momentum indicators present a solid bullish outlook, with the RSI at 78.31, firmly placing it in overbought territory, making BONK one of the best meme cryptocurrencies to buy in July 2025. The MACD line is well above the signal line, with increasingly wider histogram bars, suggesting a continuation of the upward movement. The Ultimate Oscillator also remains above 66, further confirming the bullish trend.
In a bullish scenario, BONK could surpass the Fibonacci level of $0.00004190 and head towards a new all-time high of $0.00005916. However, if BONK experiences a rejection in the 4.236 Fibonacci zone, a positive retracement towards the 3.618 or 2.618 zones ($0.00003894 and $0.00003414 respectively) could materialize.