BONK remains in a bullish trend despite a recent market correction, with the price now rebounding from a key technical support zone. A breakout above current resistance levels could potentially lead to a sharp 77% upside move, making it a cryptocurrency to closely watch this week.

Key Technical Points Supporting BONK’s Uptrend

  • Support Zone: 200-Day Moving Average (200MA) + Daily Support + 0.618 Fibonacci Retracement
  • Resistance Zone: Point of Control (POC) – A high-volume area acting as resistance
  • Market Structure: Higher highs and higher lows confirmed

Analyzing BONK’s Current Price Action

The price action of BONK reflects a textbook bullish trend, characterized by a series of higher highs and higher lows. After encountering resistance at the Point of Control (POC)—a zone with significant historical trading volume—BONK retraced to a strong confluence support area. This zone is supported by the 200-day moving average, daily support levels, and the 0.618 Fibonacci retracement, which collectively provide a robust foundation for price stabilization.

At present, BONK is trading within a low-timeframe range, a pattern that frequently forms before a bullish continuation. This suggests that buyers are stepping in to defend the current support level, signaling that demand is beginning to outweigh supply once again.

Volume Analysis Indicates Strong Bullish Momentum

Volume analysis further supports the bullish outlook for BONK. Each upward price rally has been accompanied by a significant increase in trading volume, highlighting continued interest and momentum favoring buyers. As long as the cryptocurrency maintains its higher lows, the next target lies above the POC resistance zone. A successful breakout from this level could pave the way for a rapid 77% upside move.

Investor Behavior at Support Levels

Another critical factor reinforcing BONK’s bullish trajectory is investor activity during market dips. Despite recent price volatility, the consistent buying pressure observed at lower levels reflects strong confidence among investors. This accumulation behavior is a hallmark of trending markets, where temporary pullbacks are met with renewed buying interest.

“Consistent demand at support zones often signals a healthy uptrend, where buyers are willing to step in and accumulate during dips.”

If this pattern persists, BONK is well-positioned to sustain its upward momentum and build the foundation for a potential breakout as market conditions stabilize.

What to Expect in the Coming Days

Looking ahead, if BONK successfully holds its current support level and breaks above the POC resistance, a new rally toward higher resistance zones is highly likely. With the bullish market structure intact, buyers remain firmly in control, making the cryptocurrency a strong contender for further gains in the near term.

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