Let’s break it down based on available technical analysis and market sentiment from recent sources.
Current Price and Resistance Zone
Price Context: As of July 8, 2025, BONK price has shown volatility, with a 9.1% increase in the last 24 hours and a 60.1% rise over the past week, suggesting strong short-term bullish momentum.
Resistance Zone: BONK is approaching or testing a resistance zone around $0.00002326–$0.000025:
The $0.00002326 level corresponds to the Fibonacci 23.6% resistance on the daily timeframe, as noted in CoinMarketCap’s analysis.
BONK is near a resistance zone between $0.000019191 and $0.000021057, with $0.000025 as a potential target if it breaks higher.
Given the current price of $0.00002370, BONK is likely within or just above this resistance zone, particularly around the $0.00002326 Fibonacci level. A daily close above $0.0000207–$0.00002326 could signal a breakout toward $0.000025.
Technical Indicators:
RSI: The Relative Strength Index (RSI) is above 60, indicating bullish momentum but not yet overbought (below 70). This suggests room for upward movement, though it’s cooling from overbought levels on shorter timeframes.
MACD: The MACD shows bullish signals with a positive crossover, supporting the potential for continued upward momentum.
Moving Averages: The 200-day moving average is sloping up and below the current price, acting as potential support, while the 50-day moving average (around $0.0000181) is also below the current price, indicating a bullish trend.
Breakout Confirmation: BONK recently broke out of a descending wedge pattern, with a retest confirming the breakout, suggesting a potential move toward $0.000025.
Will BONK Cross $0.000024 in the Coming Hours?
Bullish Case:
The current price of $0.00002370 is very close to $0.000024, and the recent 20% surge in 24 hours, driven by ETF speculation and Solana ecosystem momentum, supports the possibility of crossing $0.000024 soon.
If BONK maintains its position above the $0.00002326 Fibonacci resistance and sees increased trading volume, it could target $0.000025, making $0.000024 achievable in the next few hours.
The bullish engulfing pattern on the weekly timeframe and positive sentiment (Fear & Greed Index at 73, indicating greed) further bolster the case for a short-term push above $0.000024.
Bearish Case:
If BONK fails to close above the $0.00002326–$0.000025 resistance zone on the daily timeframe, it could face rejection, potentially pulling back to support levels around $0.0000180–$0.0000200 or lower to $0.0000150.
The 4-hour chart shows RSI cooling from overbought levels, and a loss of support at $0.000015 could lead to a deeper correction, making it harder to cross $0.000024 immediately.
Meme coins like BONK are highly volatile and sensitive to sentiment shifts, so a sudden change in market mood or broader crypto market downturn could halt the rally.
Conclusion
BONK is currently within a key resistance zone around $0.00002326–$0.000025, with the price at $0.00002340. Given the strong bullish momentum, recent breakout from a descending wedge, and positive technical indicators (RSI above 60, bullish MACD), there’s a reasonable chance BONK could cross $0.000024 in the coming hours, especially if trading volume remains high and it closes above $0.00002326 on the daily chart. However, failure to break this resistance decisively could lead to a pullback to $0.0000180 or lower.
Recommendation: Monitor the $0.00002326–$0.000025 zone closely. A strong daily close above $0.00002326 with sustained volume increases the likelihood of hitting $0.000024 and potentially $0.000025. Set tight stops below $0.0000200 to manage volatility risks. Always conduct your own research, as meme coins are highly speculative.
Disclaimer: This is not financial advice. Cryptocurrency investments are highly volatile and carry significant risk. Always do your own research (DYOR) before making investment decisions.
