The post Solana-Based Meme Coin BONK Jumps 10% – Can It Sustain the Rally? appeared on BitcoinEthereumNews.com.

Solana meme coin BONK jumps 10.65% in 24 hours, ranking among the top gainers. A double bottom pattern on the 4-hour chart suggests a trend reversal if BONK breaks above $0.00001240. The global crypto market is attempting to recover as Bitcoin (BTC) climbs back to the $85K zone. Yet, the recent recovery efforts have fallen short, with major cryptocurrencies continuing to extend their losses. The meme coin sector has been hit hard, with many tokens dipping further into the red. Despite this, the Solana-based meme coin BONK has posted a gain of over 10.65% in the past 24 hours, topping the gainers’ list. BONK 1 Day Price Chart (Source: CMC) BONK currently holds the third spot among the top gainers, setting itself up for a bullish move for the day. The memecoin broke past a key resistance level at $0.00001206, reaching an intraday high of $0.00001273 from a low of $0.00001151. It has since retraced slightly and is now trading at around $0.00001213. Additionally BONK’s daily trading volume has surged by over 128%, hitting $159.13 million. BONK Tests Key Resistance with Bullish Reversal Signals In the one day chart, BONK tested a key resistance level at $0.00001273. Looking at the 4-hour BONK/USDT chart, the meme coin appears to be forming a Double Bottom (W Pattern), a possible bullish reversal signal. The price has tested a support level twice around $0.00001100, creating a “W” shape, with a neckline resistance near $0.00001240. A breakout above this level could confirm an upward trend, signaling potential buying momentum. Alternatively, if the price forms a higher low, it could develop into an Inverse Head & Shoulders pattern. However, as of now, the Double Bottom pattern is the more prominent formation, indicating a possible trend reversal if resistance is breached. Some technical indicators also support a…

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Filed under: News - @ April 2, 2025 10:24 am