**BONK Bounces Back — Is a New Bullish Wave Incoming?**

As of Monday, BONK has surged over 4%, adding to the nearly 5% gains recorded since Sunday. This recent rally keeps BONK firmly above the key 50% Fibonacci retracement level at **\$0.00002350**, calculated from the November 20 high of **\$0.00006230** to the April 7 low of **\$0.00000886**.

Now, BONK is eyeing the next major target: the **61.8% Fibonacci level at \$0.00002958**. A strong daily close above that level could open the path to **\$0.00004105**, aligning with the **78.6% Fib retracement** — a major bullish confirmation.

Technical indicators are showing a shift in momentum:

📈 The **RSI** on the daily chart currently reads **47**, reflecting neutral territory but tilting upward — a subtle sign of growing strength.

📉 Meanwhile, the **MACD** is edging closer to a bullish crossover with its signal line, while red bars on the histogram are fading, hinting at declining bearish momentum.

However, if BONK fails to hold above the **50% retracement at \$0.00002350**, it may revisit support at the **200-day EMA near \$0.00002129**, a crucial level to watch.

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