The meme coin BONK has recently been in a consolidation phase. Analyzing current charts and indicators hints at a possible upward trend.
Changes on the BONK Chart
The BONK/USD chart shows an unexpected but promising shift from a consolidation phase to a potential new upward trend. The recent green candles with longer bodies suggest some buying pressure is slowly returning.
Importance of Fibonacci Levels
Currently, the BONK price is hovering near the 0.382 retracement level at about $0.0000145. This level often serves as an inflection point — a close above it could push BONK toward the next Fibonacci level at 0.236 around $0.0000175, suggesting an upside of about 20% from the current price.
Traders' Approach to BONK
BONK price is at a technical crossroads. Short-term traders should watch for a daily close above the $0.0000145 mark with increasing volume. If the breakout occurs, it could confirm a fresh rally to levels around $0.0000175–$0.0000200. If the breakout fails, setting tight stop-losses around $0.0000135 could protect against a deeper pullback.
Chart structures and Fibonacci levels indicate a possible breakout. Traders should closely monitor the next few trades: if BONK breaks out of its sideways drift, this could lead to a short-term spike of 20-30%.
