Bonk Price broke out a consolidation range of several weeks, confirming the optimistic intention with a decisive change in the market structure. After testing the critical and recovered price levels from the lost ground, the meme medal is now positioned for a continuous movement higher. The configuration suggests additional increase potential, the key levels now acting both as technical springboards and psychological targets. With the strengthening of the trend, traders are now looking closely at the approaches to higher resistance areas.
Bonk price analysis
Breakout of the accumulation range
Bonk exchanged in a tight consolidation strip between $ 0.000021 and $ 0.000027 for several weeks. This range served as an accumulation area, marked by a drop in volatility and volume compression. The recent escape greater than 0.000027 invalidated the lateral structure and marked the start of a new update. Based on the height of the previous beach, the immediate price target is nearly 0.000033 to $ 0.000035, with $ 0.000038 as the next resistance.
Retests and recover structural support
After the escape, Bonk retested the area of $ 0.000027 with a clean withdrawal, validating it as a new support. This confirmation is essential from a technical point of view – it reduces the risk of a false and establishes a higher probability of continuation of trends. The rebound of this level was supported by the increase in volume, more solidifying recovery. As long as Bonk is above $ 0.000027 on the fence bases, the structure remains firmly optimistic.
Continuation trend and fibonacci targets
The current trend consists in forming a parabolic curve, with Bonk printing a coherent series of highest high and higher ups on time 4 hours and daily. The application of fibonacci extensions of the most recent low swing at a target level suggests target levels around $ 0.000044, $ 0.000052 and $ 0.000065. Each of these is aligned with the areas of anterior blocks and the historical resistances of the wick, adding an additional technical confluence.
Increase in momentum and open interest
The data on the chain and derivatives show the increase in open interest rates and financing, indicating the leveraging effects aligning with the action of cash prices. Although it is not a signal directly based on the graph, the alignment of derivatives and the structure of the market in cash often accelerates the trends of the rupture. If this continues, Bonk could try an escape beyond $ 0.00005 in the next leg.
Key levels to monitor
- Support: $ 0,0000,27 (confirmed retest area), followed by $ 0,000024 as a deeper correction base
- Resistance: $ 0.0000,00038, then $ 0,000044 and $ 0,000065 as Fibonacci extension targets
- Cancelation: Break and close below 0.000024 can change the neutral structure
Conclusion: the structure promotes bulls
The structure of the current Bonk market is clearly optimistic, supported by a model for confirmation of curse and acceleration of the strength of trends. With the aligned momentum and the price concerning key structural levels, short-term perspectives remain positive. As long as the $ 0,000027 support holds, market bias promotes a thrust to $ 0,00005 and beyond.
