The post Bonk Price Prediction: BONK Breaks Above $0.000017—Can Technicals Fuel a Rally Above $0.000030? appeared on BitcoinEthereumNews.com.

Bonk (BONK), the Solana-based meme coin, is turning heads once again as its price surges past the $0.000017 resistance, bolstered by renewed interest following the launch of its Web3 gaming title, Bonk Arena. While its memecoin status once limited it to speculative trading, BONK is now showing signs of evolving into a more utility-driven asset. But does the technical landscape support a sustained breakout? Technical Analysis: A Delicate Breakout Above Resistance Bonk has officially broken through the key resistance at $0.000017, closing several hourly candles above the level—a move that indicates early bullish intent. The breakout comes after days of consolidation in the $0.000015–$0.000017 range, and while the price is still below the major resistance at $0.0000195, momentum is building. Support and Resistance Levels: Immediate resistance: $0.0000195 Support now flipped: $0.000017 Critical downside level: $0.000015 The Relative Strength Index (RSI) sits at 43, still in neutral-to-bearish territory, indicating that the asset is not yet overbought. This leaves room for further upward movement if buying volume sustains. Bonk has formed a clear bullish falling wedge pattern on the 4-hour chart and has successfully broken out, signaling a potential long entry opportunity. SOurce: CGI_Indicator on TradingView However, Bollinger Bands show BONK hovering near the lower band, suggesting it’s either bouncing from oversold territory or about to test lower levels again. This formation commonly precedes strong directional moves, particularly when price volatility is tightening—as it is now. Meanwhile, volume surged to $160 million, showing strong interest from spot traders. But open interest declined by 7%, implying derivatives traders are more hesitant, likely awaiting confirmation of a higher breakout or bracing for a bull trap. MACD (Moving Average Convergence Divergence) is on the verge of a bullish crossover on the 4-hour chart, with the MACD line approaching the signal line from below. If confirmed,…

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Filed under: News - @ June 12, 2025 1:23 am